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Little Change to Wool Market

Little Change to Wool Market

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson advises that although different sectors in each sale in the North and South Island showed small gains and losses this week, it was generally a steady market overall.

Of the 15,334 bales on offer 76 percent sold, reflecting dissatisfaction with current market levels by some growers not prepared to sell.

There were also different market movements between selling centres for comparable types reflecting processing and shipping requirements amongst local exporters.

The weighted indicator for the main trading currencies was 0.79 percent lower than the last sale on 13th February but had minimal impact on the market.

Mr Dawson reports that Fine Crossbred Fleece and Shears were firm to 2 percent dearer in the South Island and 1 to 2 percent cheaper in the North Island.

Good colour fleece in the South were 1 percent dearer and firm in the North. Average style full fleece were firm to 2 percent easier with poor styles 1 to 2 percent cheaper.

Shears varied between Islands with better styles generally firm to 2 percent dearer and poorer styles 1 to 3 percent cheaper.

First Lambs Fleece ranged from 2 percent cheaper to 1 percent dearer.

Long Oddments averaged out to be firm with shorter types 1 to 2 percent dearer.

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

Next sale on 27th February comprises approximately 7,600 bales from the South Island only.

ENDS

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