Abstract

Price trends for a total of 147,416 lots of wool in the strong wool segment of the New Zealand clip sold at auction between 1 July 2003 and 30 June 2007 were analysed by multiple regression analysis to determine the effect on price of five key characteristics known to affect wool processing performance. Changes in exchange rate were allowed for by covariance against the exchange rate of the US dollar on the day of the auction. The residual standard deviation within the data set was 20.4 c/kg clean. Mean values of the slope of the regression, or relative economic value, were 0.4 ± 0.2 c/ kg clean/mm change in barbe length, -1.9 ± 0.9 c/kg clean/ìm change in mean fibre diameter, 2.5 ± 0.5 c/kg clean/CIE Y value change in brightness, -5.0 ± 0.6 c/kg clean/CIE Y-Z value change in intensity of yellowness and -16.8 ± 3.0 c/kg clean/% change in vegetable matter contamination. These estimated values align closely with values estimated in 1991 for the New Zealand clip as a whole confirming that despite the significant changes that have occurred within the wool processing industry the economic significance of individual wool characteristics to wool processors have not changed.

RMW, Sumner, AK McDermott, and NR Cox

Proceedings of the New Zealand Society of Animal Production, Volume 68, Brisbane, Australia, 53-56, 2008