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Wool Market Moves Upward Again

Wool Market Moves Upward Again

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that today’s North Island sale saw wool prices continued their upward trend. With interest still continuing from China and pressure for exporters to meet shipping requirements wool prices climbed to higher levels than expected.

The Trade Weighted Currency Index moved from 0.7269 to 0.7071 down 2.72 percent. This also contributed to today’s lift.

Compared to the last North Island Sale on the 18th September a nominal offering of Coarser Crossbred Fleece was 4 percent dearer.

Fine Crossbred Fleece 34 and 35 micron 4 to 6 inch rose 6 to 7 percent while36 micron lifted up by 5 percent.

Fine Crossbred Early Shorn and Second Shear 32 and 33 micron 3 to 5 inch rose by 2.5 percent, 33.5 to 36 micron 3 to 5 inch was 5 percent dearer. 31 to 36 micron 3 to 4, 2 to 4 and 2 to 3 inch were 5 to 7 percent dearer while 34 to 36 micron 2 to 4 inch rose 12 percent.

Coarse Crossbred Early Shorn and Second Shear 38 micron and coarser 3 to 4 and 2 to 4 inch climbed 9 percent.

Crossbred Combing Oddments remained firm while Clothing Oddments, average style were 2.5 percent dearer and poor style 6.5 percent dearer.

The next sale on the 9th October comprises approximately 8,900 bales from the South Island.

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