Auctions see mixed market for wool

Auctions see mixed market for wool

New Zealand Wool Services International Ltd reports that prices of 20,800 bales at today¹s North and South Island wool auctions met a mixed reception, depending on style and preparation.

A varying currency range had only minor impact on the sale. Since the previous wool auction on 31 January the New Zealand dollar has risen by up to 0.5 per cent against the US and Australian dollars and by three per cent against the Euro and Sterling.

Of greater influence on the auction was weaker interest from China, where severe weather and the New Year vacation has limited recent business. As a consequence, finer crossbred and hogget fleece types eased in price by up to two per cent.

According to New Zealand Wool Services International, there was considerable disparity between similar types offered in each island. While prices for coarser crossbred full fleece and shears in the South Island generally held ground, the same types in the North Island sale eased, with substantial discounts incurred on poorly prepared lines, especially for wools containing high vegetable matter.

Prices for lambs¹ wool ranged from firm to 1.5 per cent cheaper than last week. Most oddment types remained solid.

The next wool auctions will be held on Thursday 14 February, again combining North and South Island wool, comprising 8,900 bales in Napier and 9,000 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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