Wool Market Strengthens

New Zealand Wool Services International Limited’s Marketing Manager, Mr Paul Steel reports that with an easier New Zealand dollar and a slight increase in demand combined to generally improve prices at today’s wool sale. Of the 8,400 bales on offer 85 percent sold.

The weighted indicator for the main trading currencies dipped from .7231 to .7172 (down by 1 percent).

The limited offering of Good Colour Crossbred Fleece lifted by 1.5 to 2 percent. Good Colour Early Shorn and Second Shear types rose by up to 1.5 to 3 percent with finer types most affected.

Crossbred Oddments declined by 2.5 to 5 percent on levels they were fetching at the last North Island wool sale on 16 August.

Competition came from our traditional trading partners, China, India, United Kingdom and Australasia supported by Western Europe.

Next sale on 13th September comprises 14,800 bales from the South Island.