Prices Rise Across Board at Wool Sales
Press Release
New Zealand Wool Services International Ltd reports that prices at today’s wool sales rose across the board, despite a stronger New Zealand currency.
Measured against a weighted indicator of the
main international wool trading currencies, the New Zealand
dollar has risen by 2.2 per cent since the previous sale on
5 November, which would normally push local prices down.
However this factor has been over-ridden by strong demand,
resulting in some substantial price lifts in several
sectors.
In the combined auction of 22,000 bales of
North and South Island wool in Napier and Christchurch, 93
per cent of the wool on offer was sold.
According to
New Zealand Wool Services International, compared to the
last time offered in Christchurch on 29 October, merino
fleece rose in price by three to seven per cent, finer mid
micron fleece remained firm with the coarser end one to two
per cent up.
Compared to the last Napier sale on 5
November, North Island prices for fleece and shears were
three to seven per cent dearer with oddments six to 11 per
cent dearer.
In the South Island, since the previous
Christchurch sale on 29 October 2009, comparable coarse wool
types rose in price by nine to 13 per cent.
Buyers
from Australasian carpet mills, China and the Middle East
dominated widespread competition at the sales, supported by
India, Western Europe and the United Kingdom.
Next
week’s auction, on 26 November, will be of South Island
wool, in Christchurch, offering approximately 5,400 bales.
For pertinent figures please see the following
document:
http://img.scoop.co.nz/media/pdfs/0911/excel1.xls
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