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Demand Pushes Wool Up

Demand Pushes Wool Up

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that increased demand with seasonal limited availability and clients operating on a hand to mouth basis, combined to lift the market with finer wool types sought after the most.

Of the 12,635 bales on offer, 92 percent sold. The weighted indicator for the main trading currencies was unchanged compared to the last sale on 16th April.

Mr Dawson advises that demand for prompt shipments and the cancellation of the rostered sale next week in the North Island also impacted on the market pressure.

Fine Crossbred Full Fleece were up to 2 percent dearer. Longer Fine Crossbred Shears were 3 to 7 percent stronger with shorter types firm to 3 percent stronger.

Coarse Crossbred Full Fleece, good and average style were 1 to 2 percent dearer with poor styles lifting 5 percent.

Long Coarse Shears were 3 to 5 percent dearer with shorter types 1 to 3 percent firmer.

Long First Lambs Fleece were 5 to 7 percent stronger with shorter types firm to 4 percent dearer.

Long Oddments lifted 5 to 7 percent with short oddments 2 to 4 percent firmer.

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

May comprises approximately 10,300 bales from the South Island.

Ends

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