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Stronger market for wool

Stronger market for wool

New Zealand Wool Services International Ltd reports that prices strengthened at today’s wool sale, despite a rise in the New Zealand dollar.

Of the 16,730 bales on offer at the combined auction of North and South Island wool, 76.5 per cent sold.

According to New Zealand Wool Services International general manager John Dawson, indicators were positive.

“There was good demand for well prepared crossbred fleece and second shear; the strong wool indicator increased by nine NZC/KG to 611; the fine wool indicator also increased by nine NZC/KG to 645 and the mid micron indicator was 936 NZC. This was achieved on the back of a significantly higher New Zealand dollar, which, since last week’s sale on 11 August, rose by 25 per cent against the weighted indicator for the main wool trading currencies.

“For South Island wools, since they were last offered on 4 August, mid micron wools of 25.5 micron were 4.5 per cent cheaper; 26.5 micron were buyer’s favour; 27 and 27.5 micron types were three per cent cheaper; 28 and 28.5 micron were 1.5 per cent cheaper and 29 to 30 micron wools were firm.

“Compared to the 11 August South Island sale, fine crossbred fleece 33 to 36 micron was 2.5 to three per cent dearer; fine crossbred early shear and second shear 33 to 35 micron three to five inch and three to four inch rose by one per cent; coarse crossbred fleece 37 micron and coarser were up by two per cent; coarse crossbred early shorn and second shear 36 micron and coarser were 1.5 to two per cent dearer; crossbred combing oddments were firm to seller’s favour; and carding oddments were buyer’s favour.

“Meanwhile in the North Island, compared to the 11 August sale, fine crossbred early shorn and second shear 34 and 35 micron three to four inch types remained firm and two to four inch types were one per cent cheaper; coarse crossbred early shorn and second shear 36 micron and coarser three to four inch were 1.5 per cent dearer; and crossbred clothing oddments two to four inch were 2.5 per cent cheaper while the two to three inch types were 1.5 per cent dearer,” he said.

At next week’s sale, on 25 August, 6,000 bales of South Island wool are scheduled to be offered.

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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