Supply Pressures Wool

Supply Pressures Wool

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that lower than expected wool volumes this week pressured the South Island auction generally lifting the market 2 percent.

Of the 9,265 bales on offer 92 percent sold.

The weighted indicator for the main trading currencies leading up to the sale was 0.21 percent stronger compared to the last sale on 16th April.

Mr Dawson advises that shipment pressure and a wider wool type selection than last sale, added to the market strength.

Fine Crossbred Fleece and Shears were 1 to 3 percent dearer.

Coarse Crossbred Fleece, good and average style were 1 to 3 percent dearer with poor styles 3 to 4 percent stronger.

Longer Coarse Shears lifted 2 to 4 percent with short types firm to 3 percent dearer.

First Lambs 30 micron and finer were 2 to 4 percent stronger, coarser short lambs were 1.5 percent to 3 percent firmer with longer types 2 to 5 percent easier.

Long coarse oddments were firm to 2 percent cheaper with short oddments 1 to 3 percent dearer.

Limited competition with China dominating, supported by Western Europe, Australasia, India and the Middle East.

Next sale on 30th April comprises approximately 5,100 bales from the North Island.

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