Season’s final sale - wool prices increase further

Season’s final sale sees wool prices increase further

New Zealand Wool Services International Ltd reports that the final sale of the 2007/08 wool season, of 15,000 bales held in Christchurch this week, resulted in prices lifting across all categories.

With the New Zealand dollar unchanged against the United States dollar since the previous auction on 19 June, rising wool prices are purely market driven.

Mid micron fleeces increased in price between two and four per cent since they were last offered. Fine crossbred fleece rose by three per cent, while hogget shears gained between one and two per cent.

Coarse crossbred fleece and shears added between one and two per cent, with the better style pre lamb fleece attracting the most interest.

Lambs’ fleece appreciated between one and three per cent, with the longer types selling strongly.

According to New Zealand Wool Services International, full-length oddments came under particularly strong pressure, gaining between four and five per cent. The shorter types also benefited with a lift of between 2.5 and 3.5 per cent.

The new selling season commences on 10 July in Napier with an offering of approximately 11,500 bales of North Island wool.

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

Note to editor:
The full and detailed version of the New Zealand Wool Services International New Zealand Wool Report is taken by various national and international corporations, exchanges and agencies, including NZX, Reuters, the UK Wool Report, Meat and Wool New Zealand, Australian Wool Exchange and various others including bank economists and analysts.

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