Overall A Positive Wool Market

Overall A Positive Wool Market

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 18,400 bales of North and South Island Wool on offer this week saw mixed fortunes, however there was still a 96 percent clearance.

Compared to the last sale on 13th October the weighted indicator for the main trading currencies barely altered, strengthening by 0.34 percent.

Mr Dawson advises that Merino Fleece 19.5 micron and finer recovered by 2.5 to 5 percent after recent significant drops, however the 20 to 22.4 micron sector which had previously been holding up eased between 5 and 7 percent. Mid Micron Fleece 24 to 28 micron gained by 2 to 4 percent with 28.5 to 29.5 micron sellers favour and the coarser end of 30 to 31.5 micron easing by up to 1.5 percent. Fine Crossbred Fleece and longer shears were generally 1 to 2.5 percent cheaper with the shorter types firm. Coarse Crossbred Fleece were firm to 1.5 percent stronger with the poorer styles benefiting the most. Coarse Shears 3/5 and 3/4 inches were also firm to 1.5 percent stronger. The 2/4 inch wools were 2 to 3 percent softer with the 2/3 inch shears impacted the most, reducing by 4 to 6 percent. Combing Oddments remained steady overall with the shorter types firming slightly.

Well spread competition with China and Western Europe influencing the Merino and Mid Micron wools. Fine Crossbreds were also dominated by China with the coarser wools sought after by Australasia and the Middle East, supported by China and Western Europe.

Next sale is on the 10th November comprising approximately 10,000 bales of North Island wool only. There is no South Island sale until the 17th November.

ENDS

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