Wool Market Generally Holds Steady

Wool Market Generally Holds Steady

New Zealand Wool Services International Ltd’s General Manager, Mr John Dawson reports that prices held steady despite a weaker N.Z dollar. The weighted currency indicator dropped by 2.03 percent compared to last sale on 27th October however did not correspond through to relative across-the-board price gains in the local market.

Mr Dawson advises that of the 6,900 bales of North Island wool on offer this week 91 percent sold with the hogget fleece and shears 32 to 35 micron tending buyers favour except the very short wools which were strongly contested, lifting by 4 to 5 percent.

Coarse crossbred fleece were generally firm to buyers favour with 3 to 5 inch shears gaining by 2 percent. The 3 to 4 and 2 to 4 shears were buyers favour, however the shorter types were again in favour, lifting by upto 5 percent.

Combing oddments remained firm with the short types between 1 and 4 percent stronger.

Limited competition with China, Australasia and India principals supported by Western Europe and the Middle East.

Next Sale on 17th November comprises approximately 10,200 bales of South Island wool including Merino and Mid Micron fleece.

ENDS

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