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Underlying Strength To Wool Market

Underlying Strength To Wool Market

Mr John Dawson, General Manager, New Zealand Wool Services International Limited reports that although the South Island sale saw several categories at slightly lower price levels than last week’s North Island sale, there is still steady demand and a general underlying strength to the market.

Of the 10,362 bales offered this week, which was considerably more than anticipated, 75 percent of the offering sold. The passed-in wools were predominantly lots with inflated grower reserves.

The weighted indicator for the main trading currencies was unchanged compared to the last sale on 1st November.

Mr Dawson advises that Merino Fleece were firm to 4 percent cheaper. Mid Micron Fleece finer than 26 micron were firm to 3.5 percent dearer, 26.5 to 30 micron were up to 4 percent cheaper with 30.5 to 31.5 microns up to 6 percent dearer. Fine Crossbred Fleece generally remained firm. Longer Fine Crossbred Shears were 1.5 to 4.5 percent dearer with shorter types firm. Coarse Crossbred Fleece were generally buyers favour. Longer Coarse Shears were up to 1.5 percent easier with shorter types 1 to 3 percent cheaper. Oddments were 7 percent stronger.

Good competition with China, India and Western Europe principals supported by Middle East and the United Kingdom.

Next sale on 15th November comprises approximately 9,125 bales from the North Island.

ENDS

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