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Napier Wool Sale Remains Strong

 
Napier Wool Sale Remains Strong

 
NZ Wool Services International reports that 9,800 bales on offer in Napier this week attracted strong support from major players.

With the NZ dollar over 1.3% stronger to the US dollar than last week’s auction, only longer hogget fleece and better-colour coarse ewe wools succumbed to this pressure and eased between 1.5% and 2.5%.

As the sale progressed the NZ dollar weakened from its three-month high and prices firmed locally.

WSI advises that early shorn and second shear wools generally remained firm.  All oddments came under pressure, reflecting an oversold position after recent Indian and European buying interest and were 1.5% to 3.5% dearer.

The continued volatility and uncertainty surrounding the NZ dollar, coupled with current low seasonal wool flows, look set to keep prices around present levels in the short term.
The next wool auction on 22nd November comprises approximately 12,500 bales in Napier and 15,000 bales in Christchurch.

New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at http://www.nzwsi.co.nz. The full report is available by negotiation with the company.
 

-ENDS-

 

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