Wool Prices – A Tale Of Two Markets

New Zealand Wool Services International Ltd’s General Manager, Mr John Dawson reports that the combined North and South Island Wool auction comprising 21,000 bales saw a 70 percent clearance with mixed fortunes depending on type and selling centre.

The NZ dollar against the weighted indicator for the main trading currencies was 0.60 percent stronger compared to the last sale on 19th January.

Mr Dawson advises that targeted purchasing of wools suitable for the Chinese market and better style wools held their ground, however there was large variation in price movements between selling centres, with the North Island being affected the most and the poorer coloured wools bearing the brunt of the softer market.

Mid Micron wools in the South Island generally remained unchanged as did the Fine Crossbred Fleece and Shears. Good Colour Crossbred Fleece remained firm, however, average and poor styles eased by 2.5 to 5 percent. Coarse Shears in the South generally remained solid with the North Island offering weakening up to 4.5 percent. First Lambs in the South were firm to 2 percent softer and in the North up to 4 percent easier. Oddments in the South ranged from 2.5 percent dearer to 5 percent cheaper with the North on average 6 percent down.

Wide spread activity with Australasia, China and Western Europe principals, supported by India, Middle East and the United Kingdom.

Next sale on 2nd February comprises approximately 9,400 bales from the North Island and 6,700 bales from the South Island.

ENDS

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