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Wool Continues To Ease

Wool Continues To Ease

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 19,700 bales on offer from this week’s combined North and South Island auction saw an 80 percent clearance with generally lower price levels for most categories.

The weighted indicator for the main trading currencies weakened 0.96 percent compared to the last sale on 24th January however this favourable factor had limited impact on local prices.

Mr Dawson advises that Mid Micron Fleece were firm to 4 percent cheaper.

Fine Crossbred Fleece and longer shears 32 to 35 micron were generally 2 to 4 percent cheaper with the shorter types 1.5 to 3.5 percent easier.

Coarse Crossbred Fleece were 2.5 to 6 percent weaker with the coarser, poorer styles affected the most.

Coarse Shears were generally 2 to 6 percent cheaper except a small offering of the shorter types in the South Island which were between firm and 4.5 percent stronger.

First Lambs were 2 to 4 percent cheaper. Longer Coarse Oddments were generally unchanged overall with the shorter types generally 3 to 5 percent easier.

Overall it was a mixed market with targeted buying between types and selling centres with local shipping requirements playing a major role. Chinese buying will slow now as businesses start closing for the Chinese New Year celebration.

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

Next sale on 8th February comprises approximately 8,100 bales from the North Island and 6,200 bales from the South Island.

ENDS

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