Wool prices weaken further at South Island sale

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Prices deteriorated on an already weak market at last week's South Island wool sale in Christchurch.

The offering was largely dominated by crossbred wool.

With a drop-off in overall quality and little new business being written to off-shore markets, buyers were left buying largely "hand to mouth", PGG Wrightson Wool's South Island sales team said.

Extra demand was generated for the limited offering of new season lambs wool and also any finer wools on offer.

Crossbred fleece (31 to 33 micron) was 1 per cent-3 per cent cheaper and stylish wool was least affected, while 34 micron and stronger was up to 3 per cent -5 per cent.

Mid-micron (25 to 30 micron) was 3 per cent -5 per cent dearer on very limited volumes. Crossbred lambs wool was up 3 per cent - 5 per cent and finer micron wool was most affected.

A range of prices:

R Ruxton (Outram), 40 bales crossbred AA, 36.8 micron, 79.9 per cent yield, 239 greasy, 299 clean; The Gorge Pastoral Ltd (Oturehua), 10 bales crossbred lambs AA, 30.4 micron, 81.4 per cent yield, 430 greasy, 528 clean; W S and L A Murray (Stirling), 27 bales Romney AA, 37.8 micron, 80.5 per cent yield, 234 greasy, 291 clean; G B Walker (Tapanui), 12 bales crossbred hogget AA, 32.8 micron, 76.8 per cent yield, 329 greasy, 428 clean.