Market steady at wool sale

Market steady at wool sale

New Zealand Wool Services International Ltd reports that prices generally remaining steady at today’s wool sale.

Of the 7300 bales on offer at the auction of South Island wool, 80 per cent sold.

According to New Zealand Wool Services International general manager John Dawson, a slightly easier New Zealand dollar had little impact on the market.

“Compared to last week’s sale on 18 August, the dollar was down 0.8 per cent against the weighted indicator for the main wool trading currencies.

“At the fine end of the range of mid micron types, fleece rose from last week’s prices by six to eight per cent, with the balance ranging from buyer’s favour to two per cent stronger.

“Fine crossbred fleece and shears were firm to 1.5 per cent easier. Coarse crossbred fleece was generally firm with long shears slightly dearer. Short shears were buyer’s favour.

“Long first lambs’ fleece remained fully firm, with the shorter types up to two per cent dearer. Long oddments tended buyer’s favour, while short oddments rose by between 2.5 to 3.5 per cent,” he said.

Representatives of interests from Australasia, China, India and Western Europe generated the greatest purchasing activity at the sale today, with support from the United Kingdom and the Middle East.

Next week’s sale, scheduled to offer 6,200 bales of South Island wool, is on 1 September.

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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