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NZWSI Market Report: Wool Firms More

WOOL FIRMS MORE

New Zealand Wool Services International Ltd’s Marketing Executive Malcolm Ching, reports that of the original 15500 bales intended for sale from both centres, 2500 bales were withdrawn by growers prior to the auction with the balance of 13000 bales seeing 76.7 percent sold and most types firm to dearer.

The weighted indicator for the main trading currencies was unchanged with the market reflecting more demand as client buying activity increases.

Mr Ching advises that some growers are holding back wool or refusing to accept below production cost returns, making volumes on offer further reduced, restricting supply in some categories.

Fine crossbred fleece and shears were firm to 5 percent dearer.

Good style coarse crossbred fleece were 4 to 8 percent dearer with average to poor styles firm in the South compared to the last sale on 2nd February and up to 7 percent dearer in the North compared to last sale on 9th February.

Long coarse shears were up to 7 percent dearer with shorter shears 3 to 4 percent cheaper in the South and generally firm in the North.

Fine first lambs in the South were 2.5 to 5 percent cheaper, with coarse types 1.5 percent dearer. North Island lambs were 3 to 8 percent dearer.

Good colour long oddments were firm to 10 percent dearer in the South and 2 percent cheaper in the North. Short oddments were firm to 15 percent dearer in the South and firm to 5 percent dearer in the North.

Recent price movements now sees most types come to similar levels in each Island.

Good competition with Australasia, China and Western Europe principals, supported by India, Middle east and the United Kingdom.

Next sale on 23rd February comprises approximately 5300 bales from the South Island.


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