Wool Market Slightly Softer

Wool Market Slightly Softer

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the 5,500 bales of North Island wools on offer this week attracted mixed interest with 85 percent selling.

The weighted currency indicator compared to last weeks’ sale was up 1.45 percent, having a negative impact on some types in local terms.

Mr Dawson advises that compared to the last North Island sale on 31st March where similar wools were on offer:

Fine Crossbred Shears were generally firm.

Coarse Crossbred Full Fleece of average style were 1.5 to 3.5 percent cheaper with poorer wools lifting 1 to 2 percent.

Coarse Crossbred Shears saw targeted buying with varied results across lengths and styles with prices ranging from 3.5 percent cheaper to firm and some types up to 2 percent dearer. Preparation and vegetable matter content are affecting price ranges significantly within each type presently.

Fine First Lambs were up to 1% easier with coarser Lambs firm to 2.5 percent dearer.

Oddments were 3 to 6 percent cheaper.

North Island prices overall are below the more stylish South Island levels compared to the last sale on 7th April.

Covering for Chinese contracts is dominating the market with support from Australasia, Middle East, Western Europe and India.

Next sale on 21st April comprises approximately 9,900 bales from the South Island.

ENDS

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