Demand Pushes Wool

Demand Pushes Wool

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that underlying demand has helped hold wool prices over the past weeks with this week’s South Island offering of 7,900 bales firming again and 93 percent clearance.

The weighted indicator for the main trading currencies hardly altered compared to the last sale on 3rd October, easing 0.11 percent.

Mr Steel advises that Merino Fleece 17 to 21.5 microns were 1.5 to 2.5 percent dearer with 22 and 23 microns 5 to 7 percent stronger compared to the last time sold on 26th September.

Mid Micron Fleece 24.5 to 25.5 were 2 to 5 percent dearer with 26 to 31.5 generally firm overall.

Compared to the 3rd October sale Fine Crossbred and Shears 3 to 5 and 2 to 4 inches were 3 to 6 percent dearer with 2 to 3 inches, 2 to 4 percent dearer.

Coarse Crossbred Full Fleece were 3.5 percent firmer with 3 to 5 inch shears 1 to 3 percent firmer, 3 to 4 and 2 to 4 inches, 3 to 5 percent stronger and 2 to 3 inches up 1 percent.

Coarse Combing oddments were 7 to 8 percent dearer and short types 4 to 6 percent stronger.

Wide spread interest with China, Australasia and the Middle East dominating, supported by Western Europe, India and the United Kingdom.

Next sale on 17th October comprises approximately 6,000 bales from the North Island which is 25 percent down on rostered volumes.

ENDS

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