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Wool Remains Firm

Wool Remains Firm

New Zealand Wool Services International Ltd’s General Manger Mr John Dawson reports that the South Island auction this week comprising 6,100 bales saw an 86 percent clearance and a generally solid market overall.

The weighted currency indicator eased 0.17 percent compared to the last sale on 7th August having no real impact.

Mr Dawson advises that limited wool volumes and an oversold market are pressuring exporters who are committed to shipments, to strongly compete for the wools available. There were fluctuations in some sectors, but with underlying firm support.

Finer mid micron fleece were firm to 2 percent cheaper with poorer styles affected the most. Coarser mid micron fleece remained firm.

Fine crossbred fleece and shears were well supported with continuing Chinese interest, remaining firm to 3 percent dearer.

Coarse crossbred full fleece good and average style remained firm, with poorer styles firm to 1.5 percent easier.

Long coarse shears were generally firm, with 3 to 4 inch wools 1 to 2 percent cheaper, 2 to 4 inches 3 to 5 percent easier and 2 to 3 inch wools firm.

All oddments remained unchanged.

Well spread support with China, Australasia and the Middle East principals, supported by India, Western Europe and the United Kingdom.

Next sale on 14th August comprises approximately 8,000 bales from the North Island.

ENDS

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