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Wool Market Continues to Firm

Wool Market Continues to Firm

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that despite a strengthening NZ dollar and a larger weekly offering of wool, the market was generally firm to dearer apart from Lambs Fleece which eased slightly.

Of the 20,000 bales on offer, 88 percent sold with growers not accepting current market levels for the balance.

Compared to the last South Island sale on 27th February the currency indicator was 1.15 percent higher but had minimal impact with demand and shipping requirements being the main market driver.

Mr Dawson advises that Fine Crossbred Fleece and Shears were firm to 2 percent dearer. Coarse Crossbred Full Fleece and Shears were also firm to 2 percent dearer.

First Lambs were firm to 2 percent cheaper. Oddments were firm to 2.5 percent stronger.

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

Next sale on 13th March comprises approximately 6,600 bales from the South Island.

© Scoop Media

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