Merino wool prices up at South Island sale

News release

NZ Wool Services International Ltd reports that merino wool prices rose significantly, while other types remained steady at today’s South Island wool auction.

Since the previous sale on 24 September, the New Zealand dollar has risen by one per cent against a weighted index of the main wool trading currencies.

Today’s offering of approximately 13,000 bales saw 84 per cent sold.

According to New Zealand Wool Services International, since the previous South Island wool sale on 17 September, merino fleece 19.0 micron and finer gained in price by between five and ten per cent, while 19.5 and coarser appreciated by up to five per cent.

Fine crossbred fleece and shears were one per cent dearer to buyers’ favour.

Coarse crossbred fleece and second shear were generally in buyers’ favour.

Oddments were up to two per cent cheaper.

Interest at today’s sale was widespread, with buyers from Western Europe and China dominating the fine wool sector. For the coarser wools, buyers from China, India, the Middle East and Australasian Carpet Mills were to the fore.

Next week’s wool sale will be on 8 October offering approximately 10,000 bales of North Island wool in Napier.

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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