NEW ZEALAND MARKET REPORT

Summary

Market continues to align with Australian levels.

Comment

The South Island auction this week featured the beginning of mid-micron wools on offer and also a selection of early shorn merino wools and crutchings.  However the offering was again affected by a large number of lots withdrawn prior to the sale or passed in for failing to meet grower reserves as the market continues to show downward momentum and maintains levels similar to those seen in Australia.