Carrfields News – CP Wool June 2019
With the annual clips coming forward out of North Canterbury we are currently seeing prices continuing with the record high levels as at the same time as last year which is certainly encouraging. The quality of wool coming forward is very good and with the drought affected wools in Australia continuing to limit supply, this will help put positive pressure on the NZ market.
We are currently seeing a lot of volatility in the Australian market. With the quality being a major issue and larger volumes coming forward of these types it is very difficult to gauge the direction the market will take.
In Australia there is certainly demand for any good quality lines coming forward and they are attracting a significant price differential.
Merino oddment prices are still strong, with good competition throughout the NZ auction.
The quality of the NZ clip looks to be as good as last season in most areas, therefore our anticipation is that competition will be strong.
With a very good growing season it does have its problems with vegetable matter. We encourage that the shed preparation is vigilant in removing these faults.
CP Wool still have contracts available for all micron growers, if growers are considering locking in a portion of their clip for the coming season.
The strong wool crossbred market has continued to ease during the past couple of months. During this period, prices have generally dropped a further 5 – 10%.
A couple of contributing factors have been the trade crisis between the US and China, which has been going on for several months now. This has caused a lot of uncertainty worldwide, with China being a lot more restricted with their purchasing of NZ crossbred wools.
A major US mill, Lawtons, went into receivership, we understand their consumption of NZ crossbred wools was around 30 containers per month. Lawtons has since been purchased by Danspin.
The first wool sale for the 2019/2020 season will be held on Thursday the 11th of July, with a rostered quantity of 10,000 bales.
For more information, please contact your local rep.