Growers are unwilling to sell at market levels. PHOTO: PETER MCINTOSHGrowing volumes of unsold wool are now at levels not seen in proportion to the New Zealand wool clip for a generation, wool brokers say. Prices dropped at this week's South Island wool sale in Christchurch, where mainly crossbred wools were offered. There was continued grower resistance to selling at market levels, which had resulted in the steadily growing unsold volumes, PGG Wrightson Wool's South Island sales team said. Rabobank's latest Agribusiness Monthly said the optimism seen in the wool market last month was short-lived.

Source: Otago Daily Times April 20, 2017 18:00 UTC