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Wool sale sees solid interest in coarse wools

Wool sale sees solid interest in coarse wools

New Zealand Wool Services International Ltd reports that today’s auction of South Island wool, in Christchurch, was generally well supported.

With a wide range of types on offer, the bulk of it coarse carpet fleece wool, prices resisted the stronger New Zealand dollar, which had risen by two per cent against the United States dollar since the previous wool sale on 6 December.

Carpet fleece types ranged from barely firm to up to 1.5 per cent cheaper. Coarse oddments were also highly sought offer, remaining firm to two per cent dearer.

According to New Zealand Wool Services International, shorter hogget wools were influenced by low Chinese activity, which is limited as the quota year concludes. Prices for these types softened between two and four per cent. However, longer combing style hogget fleece completely resisted this trend, increasing in value between four and six per cent.

With limited offerings on sale today, merino and mid micron fleece wools caught up with the market and currency movements of the past three weeks. Merino wool eased in price between three and seven per cent, while prices for mid micron wools went down by between two and six per cent. Most of this adjustment is also due to the current lack of Chinese interest in these categories.

Next week’s combined North and South Island sale will be held on 20 December, the final sale for the year, comprising 19,200 bales in Napier and 8,900 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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