News Tags

Related Keywords: China largest export market, crossbred wool, drop value of New Zealand dollar, micron wool, New Zealand wool prices, NewZealand wool prices, North and South Island wool auctions, remain firm, rival synthetic fibres cheaper, sheep numbers fall, this week auction, underpinned by a smaller national clip, used for carpet

Wool prices held firm at New Zealand wool auction even though Chinese buyers were not present due to the Chinese Lunar New Year holiday this week. China is the largest export market of New Zealand. At the auction, some 83 percent of the 12,024 bales of wool offered were sold.

Related Keywords: crossbred wool, International Wool Textile Organization, low wool prices, national clip to decline, New Zealand wool, reduction in national sheep flock, smallest annual wool clip in six years, upcoming season, wool production, world largest exporter

New Zealand, the world's largest exporter of crossbred wool, is heading for its smallest annual wool clip in six years. The national clip is likely to see further decline in the upcoming season starting in July, falling to around 810,000 bales, according to Christchurch-based New Zealand Wool Services International, a unit of Australia's Lempriere and the nation's largest wool scourer and exporter.

It is reflecting the lowest sheep flock in more than 70 years, dry conditions and an increased focus on meat producing breeds of sheep.

The Australian wool markets saw prices lifted over both sale days this week, more than recovering the previous week’s losses. The EMI was quoted up Aus cents 7 to close the week at Aus$12.42 a kg. A weaker Aus$, saw the EMI fall in US$ terms by US cents 20 to close at US$9.80.

In Melbourne, sales saw firmer levels on opening, with good buyer focus on the 19 through to 20 micron categories. Crossbreds continued their rally with gains across the 28 to 32 micron wools, while the 26 micron categories sold higher. Oddments continued to enjoy solid demand, pushing prices higher.

Related Keywords: crossbred wool, wool micron, wool prices