Dollar Helps Steady Wool Market

Dollar Helps Steady Wool Market

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that this week’s combined North and South Island’s largest seasonal offering in one week of 25,300 bales saw a generally firm market with an 82 percent clearance. The slightly weaker NZ dollar eased the indicator for the main trading currencies down 0.83 percent compared to the last sale on 16th February which aided the generally firmer tone.

Mr Steel advises that a nominal offering of Merino Fleece was 3 to 5 percent softer in line with other markets. A nominal selection of Mid Micron Fleece remained firm.

Fine Crossbred Fleece and Shears were 1 to 4 percent dearer, assisted by steady Chinese interest. Coarse Crossbred Fleece were firm to 5 percent stronger with keen interest for the better styles and length. Longer Coarse Shears were firm to 3.5 percent stronger, however the shorter types weakened by 1 to 2 percent. First Lambs were firm to 3 percent dearer with the longer types increasing the most. Oddments ranged from Firm to 3 percent easier.

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

Next sale on 1st March comprises approximately 7,400 bales of South Island wools.

ENDS

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