First South Island sale post lockdown.
This week saw the first wool sale in the South Island since the country went into lockdown at the end of March due to the Covid-19 virus. The selection at this week’s sale was a reflection of wools that were available at the end of March as brokers work through the the wools that have come into their stores during the lockdown period. As a consequence there was a larger selection of crossbred shears on offer than we would normally see at this time of year. While the market is still trying to find a level, it was firm on last week’s sale in the North Island. There were quite a large number of withdrawals prior to the sale and passings were 34% where wools failed to meet grower’s reserves.