Market Continues to Show Strength

Market Continues to Show Strength

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that a continuing upward trend at today’s South Island wool sale saw prices increase.

The weighted indicator for the main trading currencies decreased from 0.6314 to 0.6181, down 2.1 percent. The US dollar rate was down to .6520 from .6670 which meant increased prices in NZC terms.

Of the 5,564 bales on offer 5,260 sold, a clearance of 95 percent.

Compared to the last South Island sale on 30th July a limited offering of Mid Micron wools 27.5 micron were 1.5 percent dearer, 28.5 to 30 micron were 5 percent dearer.

Fine Crossbred Fleece 33 and 34 micron were 3 percent dearer while 35 micron gained by up to 7 percent.

Fine Crossbred Early Shorn and Second Shear 34 to 36 micron, 3 to 4 inch and 2 to 4 inch were 1.5 percent dearer.

Coarse Crossbred Fleece 36 micron, good colour was up to 2.5 percent dearer. 36 to 38 micron, average colour was 1 percent dearer and 39 micron good to average, poor colour was firm.

Coarse Crossbred Early Shorn and Second Shear types 37 to 39 micron 3 to 5 inch were 1 percent dearer, while 36 micron 3 to 4 inch was 1.5 percent dearer. 38 micron and coarser 2 to 4 inch were firm and 2 to 3 inch was 2 percent dearer.

Crossbred Combing Oddments 36 micron and finer were 2.5 to 5 percent dearer and Clothing Oddments, good colour were 3.5 percent dearer.

There was good competition with China continuing to dominate, supported by Australasia, Western Europe and the Middle East.

Next sale on 13th August comprises approximately 9,200 bales from the North Island.

ENDS

© Scoop Media