Market cheaper post lock down.
The New Zealand sales resumed today for the first time since 19 March with the North Island only offering 7,000 bales. The selection consisted of 10% good/average colour ewe fleece, 34.0 to 38.0 micron, 40% good colour second shears, 35.0 to 38.0 micron, 25% lambs fleece, 29.0 to 31.0 micron, 15% associated fleece, shear and lamb oddments. Despite the heavily reduced market demand and anticipated drop in auction prices, the auction showed a good measure of resilience to keep any drop as small as possible. Of the wool on offer 64% of growers met the market and 36% was passed in. Most of the competition was from China and the Australasian mills, with very little coming from Europe, United Kingdom and South East Asia.
All descriptions generally 15% cheaper.
Crossbred shears 25% cheaper.
All descriptions generally 20% cheaper.
All descriptions 30% cheaper.
36% Passed In.
South Island offering 7,000 bales on 28 May 2020