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Demand Lifts Wool Prices

Demand Lifts Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island first wool auction for 2013 resulted in a strong market based on recent increased buying interest particularly from China.

Of the 21,900 bales on offer, 90 percent of the offering sold. The weighted indicator for the main trading currency compared to the last sale on 19th December was practically unchanged, lifting only 0.05 percent and having no impact on prices.

Mr Dawson advises that the range of types available in each Island influenced the market pressure, backed up by client requirements for urgent shipment. The overall effect is that inter Island price variations have now largely been removed with most types having similar values at both selling centres. The higher volumes of Coarse Short Shears available were the only types to lose some ground.

Mid Micron remained firm.

Fine Crossbred Fleece and Shears increased 2.5 to 6 percent. Coarse Crossbred Fleece and longer Shears ranged from 1.5 percent to 8 percent dearer with the North Island lifting the most.

Short Coarse Shears were firm to 3.5 percent easier. Lambs Fleece were 3 to 5 percent dearer. Long oddments ranged from firm to 5 percent stronger. Short oddments were firm to 7 percent dearer.

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

Next sale on 17th January comprises approximately 10,600 bales from the North Island and 6,200 bales from the South Island.

ENDS

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