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Wool Market Upchanged

Wool Market Upchanged

NZ Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports a slightly stronger New Zealand dollar overall and targeted buying saw the South Island offering of 9,745 bales generally firm to slightly easier.

The weighted currency indicator compared to last sale on 20th March was up 0.58 percent. Exporters concentrated on specific buying orders resulting in a 77 percent clearance with growers requiring higher prices for the balance.

Mr Steel advises that recent Chinese buying activity saw the Fine Crossbred Full Fleece and longer shears remain firm to 3 percent dearer with the short types up to 1 percent easier.

Average style coarse fleece were firm to 2 percent firmer with poor styles generally firm.

Coarse Crossbred Shears were firm to 3 percent cheaper with the shorter types easing the most, however local prices are still higher than last week’s North Island levels.

Longer First Lambs Fleece remained firm with 2 to 4 inch lines up to 1 percent dearer and shorter types firm to 1 percent easier.

Long Oddments were firm with good colour short oddments lifting up to 5 percent and poor style remaining firm.

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

Next sale on 3rd April comprises approximately 10,400 bales from the North Island.

ENDS

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