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Wool market levels generally favoursellers

Wool market levels generally favoursellers

New Zealand Wool Services International Ltd reports that today’s wool sale of 12,400 bales in Napier received mixed support.

Since the previous auction on 3 April, the New Zealand dollar has strengthened by one per cent against the United States dollar, pushing prices in some categories down. However, urgent processing and shipping demand led to other sectors being strongly contested and either holding their ground or rising in value.

According to New Zealand Wool Services International, the areas strongly supported included the finer crossbred and hogget fleece types, which strengthened between one and two per cent, with the coarse crossbred fleece wools being sellers’ favour. A limited selection of poorer style crossbred shears appreciated between three and four per cent.

All other types were between one and two per cent cheaper, with the longer lambs’ fleece softening by up to three per cent.

Next week’s wool auction will be of South Island wool only, held on Thursday 17 April, comprising 21,000 bales, in Christchurch. More favourable wool prices achieved over recent weeks have attracted additional volumes than earlier indicated to this sale. Growers will be hoping this additional volume will not be a negative influence and upset the current delicate supply and demand factors

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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