According to Wool Services International, a slow demand, combined with a larger offering, influenced a weakening in auction values this week. Wool Services International’s Coarse Crossbred Indicator declined by 2.2%, to 449 NZ cents per kilo, clean. Of the 18,660 bales on offer from both the North and South Island, 88% was cleared.
Mid micron fleece prices ruled firm to slightly easier. Finer crossbred full fleece values were firm to 3.0% cheaper, with shorter types losing 1.0 to 4.0% of their
The country's textile industry is likely to face a tough situation in coming days as prices of raw cotton is likely to increase in the international market in coming day, despite forecasts of a comfortable stocks at the end of the season. Cotton prices are expected to rise in current fiscal (2013-14), according to new figures released by the International Cotton Advisory Committee (ICAC), which expects a rise in the season average 88 cents per pound in 2012-13 to more than one dollar in 2013-14.
