Prices continued their downward trend at last week's South Island wool sale.
Reduced demand from overseas, as well as the impact of the Chinese New Year, was creating some "real concerns" within the industry, Roger Fuller, of CP Wool, said.
A 3% increase in the dollar in a fortnight also
did not help the market. Lambs wool showed very little interest from exporters, especially coarser than 30.5 micron, and that was a concern as many lambs were yet to be shorn, Mr Fuller said.
PGG Wrightson Wool's South Island sales team said the little overseas activity, combined with elements of political instability in some areas, had resulted in buyers only purchasing "hand to mouth" orders.
A range of prices. - H F Cameron and Son (Otago), 47 bales crossbred AA, 35.2 micron, 75.2% yield, 280 greasy, 372 clean; Awakea Ltd (Otago), 19 bales crossbred lambs, 29.7 micron, 77.85 yield, 330 greasy, 424 clean; J and H Willocks (Otago), seven bales crossbred lambs, 31 micron, 78% yield, 299 greasy, 383 clean; J and D J Robinson (Lawrence), 20 bales crossbred AA, 37.3 micron, 79.1% yield, 318 greasy, 402 clean; Waimara Ltd (Waikouaiti), nine bales Romney lambs AA, 29.9 micron, 79.8% yield, 321 greasy, 402 clean.
