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North Island wool prices generally solid

North Island wool prices generally solid

New Zealand Wool Services International Ltd reports that prices at today’s sale of 7,000 bales of North Island wool, in Napier, generally held steady for the bulk of wools on offer.

During the sale the currency was comparable to the previous auction on 1 May. However, shortly after the conclusion of the sale, the New Zealand dollar weakened significantly.

Second shear types, which comprised 50 per cent of the selection on offer in Napier, were firm for most of the sale. However, according to New Zealand Wool Services International, second shears came under extreme pressure towards the sale’s conclusion, with longer categories jumping in price a further three per cent.

Only the 2/3 inch shears did not benefit from this strengthening trend, easing in price by one per cent through the day.

Good style full-length crossbred fleece was one per cent dearer, with other styles fully firm.

Longer lambs’ fleece remained firm, being strongly contested, though again the shorter types softened slightly.

The predominantly shorter length oddment selection, which was generally less stylish than last week’s offering, eased between one and three per cent.

Next week’s wool auction will be of South Island wool only, held on Thursday 15 May, comprising approximately 10,700 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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