Wool Market Firm

Thursday, 29 November 2012, 4:23 pm
Press Release: New Zealand Wool Services

Wool Market Firm

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 8,600 bales of North Island wool on offer saw a generally strong market with a 95 percent clearance.

Despite the Weighted Indicator for the main trading currencies strengthening by 1.04 percent compared to the last sale on 22nd November, local prices remained firm and in many cases increased slightly, pushing prices higher in overseas customer’s terms.

Mr Dawson advises that Fine Crossbred Fleece and Shears 32 to 35 micron generally remained firm.

Coarse Crossbred Fleece and longer shears 36 micron and coarser ranged from firm to 2.5 percent dearer. The 2 to 4 inch shears were the only group to soften this week, easing by 1 to 2 percent. Shorter shears strengthened 1.5 percent.

Long Oddments were up to 3 percent dearer with short types ranging from firm to 5 percent stronger.

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

Next sale on 6th December comprises approximately 6,000 bales from the North Island and 7,600 bales from the South Island.

ENDS

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