Wool market remains solid

Wool market remains solid

New Zealand Wool Services International Ltd reports that prices at today’s North and South Island wool auctions remained solid for most types after last week’s strong start to the trading year.

For the total combined offering of 19,800 bales in Napier and Christchurch, the sales were held with the New Zealand dollar basically unchanged against the United States dollar since the previous sale on 10 January.

Mid micron wools saw gains of up to two per cent, with crossbred hogget wools of all descriptions attracting widespread interest to appreciate between one and three per cent.

Coarser carpet type wools of good style and preparation attracted strong competition in both centres, ranging from fully firm to 3.5 per cent dearer. In the North Island sale, longer fleece type wools in particular came under intense pressure.

According to New Zealand Wool Services International, the only soft note was for poorly prepared lines and inferior colour body wools, which eased marginally.

Oddments of all descriptions were firm to 2.5 per cent dearer.

The next wool auctions will be held on 24 January, again combining North and South Island wool, comprising 9,800 bales in Napier and 11,300 bales in Christchurch.

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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