reverand
Member
- Location
- East lancs hills
Where can you see the sale reports or is it private?It is true that NZ has had a difficult time selling wool this last year. This has not been helped by farmers holding on to wool so there has been a large amount left to sell.
British wool has been very competitively priced over the last few months with NZ. The first sale of 2017 wool was held at Bradford last week and was a relatively small entry. Prices were very slightly down but 96% was sold.
The differential between the price of fine wool and medium is at a record gap and with NZ sheep numbers continuing to decline all the medium term indicators are for the price to rise. Wool is a very volatile commodity in price and the swings in value can be as much as 50% in one selling season, only the bravest speculators can survive those swings. This is why the BWMB is a very stable way to trade wool.
I am convinced we will see the finer, medium wools lift in price considerably as manufacturers look to cheapen their sourcing of raw wool by taking higher micron to blend, this then has the effect of pulling up the price of all wool. The next sale at Bradford is in just over 2 weeks time.