Market generally steady at North Island wool sale

News release – Market generally steady at North Island wool sale

New Zealand Wool Services International Ltd reports that today’s auction of North Island wool in Napier saw minimal price changes.

Since the previous wool sale, on 25 February, the New Zealand dollar has barely moved against a weighted indicator of the main international wool trading currencies, leaving demand and shipping capacity restrictions as the main factors influencing the present market.

Of 6,400 bales on offer today, 85 per cent sold.

According to New Zealand Wool Services International, prices for a small offering of fine crossbred wools ranged from one per cent dearer to one per cent cheaper.

Better style coarse crossbred full fleece, available today only in limited quantities, attracted heavy demand relative to other types, strengthening in price by three per cent, with the poorer styles tending sellers’ favour.

All coarse shears remained firm. Finer Lambs’ fleece was firm to one per cent dearer with the coarser types firm to one per cent easier.

Oddments were firm to one per cent dearer.

Main competition at today’s sale was from Australasian carpet mills, India and China, with support from the Middle East and the United Kingdom.

Next week’s auction, on 11 March, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 10,200 bales and 18,200 bales respectively.

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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