NEW ZEALAND MARKET REPORT

Summary

Market finds a new level.

Comment

The market appears to have found its level in recent weeks and as a consequence moved within a small price range for coarser wools.  There was also a small offering of mid micron wools available today which showed a dramatic readjustment on last levels which were several months ago.  Competition was keen at these levels.  Again the selection was a reflection of what we would normally see earlier in the season as wools that came in over the lockdown period are only being offered now and the rostered offering is limited in quantity.  Again there were quite a large number of withdrawals prior to the sale and passings were at 20% where wool failed to meet grower’s reserves.