Wool Continues to Rise

Wool Continues to Rise

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that an easing New Zealand dollar, steady client enquiry, limited seasonal volumes and local shipping requirements have created lifts for all types, with relatively extreme pressure in some areas.

Of the 8,900 bales on offer this week, 87 percent sold with the balance still not meeting growers price expectations.

The weighted indicator for the main trading currencies eased 1.19 percent compared to the last sale on 15th May, assisting the local market strength.

Mr Dawson advises that Fine Crossbred Full Fleece and Shears were between 2.5 and 5 percent dearer.

Good Colour Coarse Crossbred Fleece were 2 to 3 percent stronger, with average style firm and poorer styles between 1 and 3 percent dearer.

Longer Coarse Shears were 1 to 2 percent firmer with shorter types 2 to 3 percent stronger.

Long First Lambs were strongly contested lifting 6 to 10 percent with shorter types ranging from firm to 4.5 percent dearer.

Long Oddments were also in strong demand increasing 6 to 9 percent dearer.

Good style Short Oddments were firm to 2 percent dearer with poorer styles 5 to 10 percent stronger.

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

Next sale on 29th May comprises approximately 10,400 bales from the North Island.

ENDS

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