NZWSI Market Report: Wool Slide Continues
WOOL SLIDE CONTINUES
New Zealand Wool Services International Ltd’s Marketing Executive, Mr Malcolm Ching reports that restricted demand and the stronger New Zealand dollar, coupled with seasonal higher wool flows over coming weeks pushed local prices down significantly.
The weighted indicator for the main trading currencies was 1.77 percent stronger with the US dollar 2.45 percent up on the previous sale. Of the 18200 bales on offer, 70 percent sold.
Mr Ching advises that compared to the last respective sale for each centre on 12th and 19th January;
Fine crossbred fleece and shears 33 to 35 micron were 3 to 8 percent cheaper.
Coarse fleece and shears 36 to 39 microns were 3 to 9 percent cheaper.
Short lambs were 9 to 18 percent cheaper.
Coarse oddments ranged from 2 to 12 percent cheaper.
Price levels in the South Island eased the most, however are still 3 to 5 percent above North Island levels.
Limited competition with Australasia, China and Western Europe principals, supported by India, Middle East and the United Kingdom.
Next sale on 2nd February comprises approximately 8400 bales from the North Island and 4700 bales from the South Island.