Coarse Wools Hold Ground

Coarse Wools Hold Ground

NZ Wool Services International reports this week's wool auction in Christchurch generally continued to resist the firmer NZ dollar (+2.3% to the USD) with the bulk of the offering only marginally softer than last week¹s market.

WSI said the Fine Wool sectors of Merino and Mid Micron wools eased in line with a softer Australian market with the fine end reducing between 1 and 2% and the coarser types 2.5 to 5%.

The Crossbred Hogget fleece wools between 31 and 35 Microns were keenly contested and increased in price between 1.5 and 2.5%. However the shorter types softened slightly as seasonal volumes increase and Chinese activity is restricted.

Coarse Carpet wools of all styles were the best performed this week, generally remaining firm with the shorter shears slightly dearer.

Coarse oddments were also sought after with the longer types strengthening by upto 2.5% and the shorter styles only easing by 1.5%.

Next week¹s auction in Napier on the 8th November comprises 8,800 bales.

New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at http://www.nzwsi.co.nz. The full report is available by negotiation with the company.

-ENDS-

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