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Restricted trading sees wool prices ease

Restricted trading sees wool prices ease

New Zealand Wool Services International Ltd reports that prices eased at today's auctions of 16,800 bales of North and South Island wool.

On the back of limited recent overseas demand, the bulk of the auction offering, comprising hoggets, fine and coarse crossbred fleece wools, eased between 1.5 and three per cent.

Buyers from China, in particular, were absent from the market due to China's annual New Year break.

There were significant variations in price trends between the two centres, with prices in the South Island softening the most.

According to New Zealand Wool Services International, a small offering of merino wools was available in Christchurch, with the 20 micron and finer types gaining between three and six per cent and the 20.5 micron and coarser easing five to seven per cent when compared to the last sale of New Zealand merino wool, held on 13 December 2007.

A nominal offering of mid micron wools was strongly contested, strengthening between one and three per cent.

A large offering of lambs' wool remained firm in the North Island, however softened up to 1.5 per cent in the South.

Long oddments also eased 1.5 to three per cent, but the shorter types bucked the trend and strengthened up to 2.5 per cent.

The next wool auctions will be held on Thursday 21 February, again combining North and South Island wool, comprising 9,200 bales in Napier and 11,200 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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