Solid end to 2010 wool market

Solid end to 2010 wool market

New Zealand Wool Services International Ltd reports solid demand at this week’s wool auction, the final sale of 2010, with prices generally firm or slightly higher.

A 97 per cent clearance was achieved for the 19,500 bales on offer at today’s combined auction of North and South Island wool.

General Manager of New Zealand Wool Services International John Dawson said since the previous offering on 16 December, the New Zealand dollar had risen by almost 0.7 per cent against a weighted indicator of the main international wool trading currencies.

“Fortunately, this has had little negative impact on the market which continues to be dominated by solid demand.”

He said the small end of season offering of mid micron wools had regained some of its strength, prices rising one to two per cent.

“Prices for fine crossbred fleece and shears firmed, while coarse crossbred fleece and shears rose up to two per cent.

“The season’s nominal offering of lambs’ wool was one per cent higher. Prices for shorter oddments firmed, with longer types rising up to five per cent.”

John Dawson says as in recent months China, India and Australasia dominated today’s market, with keen competition from the Middle East, Western Europe and the United Kingdom.

The first sale of 2011 is scheduled for Thursday 13 January. It will offer about 21,800 bales from the North Island and 9100 bales of South 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-

© Scoop Media