Market Eases Slightly for Coarser Wools

Market Eases Slightly for Coarser Wools

New Zealand Wool Services International Ltd’s Marketing Executive, Mr Malcolm Ching reports that the 6470 bales on offer saw a 72 percent clearance with most types slightly easier compared to the last South Island sale on 4th August.

Second shear wools, however, when compared to last week’s North Island sale were generally 2 to 6 percent dearer except for very short shears which eased slightly.

The weighted currency indicator was 0.43 percent up on last sale, having minimal impact.

Mr Ching advises that Northern European vacations and a quiet Chinese market contributed to the slightly softer local levels.

When compared to the similar offering on 4th August;

Mid Micron Fleece 24.5 to 28.5 microns were firm to 3 percent dearer with 29.0 to 30.5 microns 5 to 7 percent dearer.

Fine Crossbred Fleece and long shears eased 1 to 2 percent.

Coarse Crossbred Full Fleece were 1 percent cheaper. Coarse shears were 1 to 3 percent cheaper, however compared to the North Island sale on 11th August were 2 to 6 percent dearer except 2 to 3 inch wools which eased 2 percent.

Oddments were generally 1 percent cheaper.

Limited competition with Western Europe dominating the finer types. Wider interest supported the coarser wools with Australasia, China and Middle East principals, supported by Western Europe and India.

Next sale on 25th August comprises approximately 5300bales from the South Island, which is again affected by weather, being 35 percent below anticipated roster quantity.

ENDS

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