New Zealand's Wool Supply Exceeds Demand And Prices Drop Sharply.

New Zealand

Mr. John Dawson, general manager of the International Limited company, reported that the 21600 packages of wool supplied by the combination of the southern island and the northern island almost led to all types of wool under limited demand.

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The weight index of major trading partners has little change compared with the previous auction, an increase of 0.13%.

The wool turnover rate reached 71% this week.

Mr. Dawson suggested that 28.5 microns in medium microns and finer wool resist the downward trend of prices, basically rising by 3%, and the price of 29-30.5 micron wool is stable to 3%.

The price of fine hybrid wool has decreased by 3-4%, while the price of fine crosscut wool has basically decreased by 2-5%. However, the price of fine and shorter types of wool has increased.

The price of good color coarse crosscut shearing decreased by 3-6%, and the poor type had strong demand, and the price remained stable.

The price of coarse shearing two times decreased by 2-7%.

This type of wool accounts for 70% of this week's supply.

The price of lamb for the first time fell by 1-5%, the largest decline in the southern island.

On the northern island,

The price has basically increased from 3.5% to a stable level, and the price in the southern island has decreased by 7-9%. However, the price in the southern island is still higher than that in the northern island.

Competition among participants in China, Western Europe and the United Kingdom is fierce, with support from buyers in India and the Middle East.

The next auction will take place on the northern island in July 12th. The number of registered wool now reaches 10500 packs.