Scoop has an Ethical Paywall
Demand Still to the Fore as Wool Market Rises Further
Demand Still to the Fore as Wool Market Rises Further
New Zealand Wool Services International Ltd reports that prices increased across all categories at today’s sale of North and South Island wool.
Heavy demand was the over-riding factor as the New Zealand market followed trends established yesterday in Australia and the United Kingdom, leading to a 98 per cent clearance of the 19,948 bales on offer and an overall price increase since last week of 5.75 per cent.
According to New Zealand Wool Services International general manager John Dawson, a rising New Zealand dollar failed to blunt appreciating prices.
“Since the previous offering on 17 March the New Zealand dollar has increased by three per cent against the United States dollar, although continuing strong demand for wool over-rode the currency factor.
“Longer fine crossbred shears and early second shears 32 to 34 micron rose between 4.5 and 5.5 per cent in the South Island, recording even stronger lifts in the North Island where good to average types were up by ten per sent and poorer wools by seven per cent.
“Coarse crossbred fleece rose, with the good to average styles up between eight and nine per cent and the poorer styles up by 13 per cent.
“Coarse early shorn and second shear wools lifted between six and 10.5 per cent, with the shorter lengths increasing the most.
“First lambs’ wool rose between 7.5 and ten per cent in the North Island and between three and five per cent in the South.
“Oddments increased between 3.5 and eight per cent,” he said.
Competition was again well spread, dominated by buyers from China with good support from Australia, Europe, the United Kingdom and Asia.
Next week’s sale, on 24 March, is scheduled to offer approximately 4570 bales from the North Island and 9300 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
John P. Ruehl: Defending Privacy In The Surveillance State And Fragmenting Internet
Ecobaits: Kiwi Inventor Seeks To Change The World Of Fishing And Ocean Care With Sustainable Fishing Products
Bill Bennett: 2degrees Charged Over Roaming Claim
Auckland Zoo: Emergency Mahi Underway For Endemic Skink On The Brink
University of Auckland: AI Has Multiple Uses In Surgery, Research Finds
Tourism Industry Aotearoa: TRENZ Bids Goodbye To The Capital, And Hello To Rotorua
