Growers are unwilling to sell at market levels. Photo / File
Growing volumes of unsold wool are now at levels not seen in proportion to the New Zealand wool clip for a generation, wool brokers say.
Prices dropped at this week's South Island wool sale in Christchurch, where mainly crossbred wools were offered.
There was continued grower resistance to selling at
market levels, which had resulted in the steadily growing unsold volumes, PGG Wrightson Wool's South Island sales team said.
The Asian market was still quiet and orders were largely for prompt deliveries.
Crossbred fleece, 31 to 34 micron and including hogget wools, was 1%-2% cheaper on a limited offering, while 35 micron and stronger was 4%-6% cheaper. Crossbred second-shear was down 3%-4%. Lamb's wool was down 5%-8% and broader-micron wool was most affected. Crossbred oddments were 5%-9% cheaper.
