Wool Market Continues To Rally

Wool Market Continues To Rally

New Zealand Wool Services International Limited’s Marketing Executive, Malcolm Ching reports that the South Island offering of 8,400 bales saw a generally firmer market this week and an 89 percent clearance rate.

The weighted indicator for the main trading currencies strengthened slightly by 0.39 percent compared to the last sale on 23rd February, having minimal impact.

Mr Ching advises that a rise in customer activity in recent days has seen a previous flat market steady with some sectors showing strong activity, although there are wool types that are still struggling for support.

Fine Crossbred Fleece and Shears were firm to 2.5 percent stronger with steady Chinese interest. Coarse Full Fleece was well supported with levels remaining firm to 3 percent stronger. Longer Shears, which were pressured last sale eased back by up to 2 percent. Shorter Shears were firm to 3 percent dearer. Fine Lambs Fleece eased slightly with the longer coarser types firm to 3 percent stronger.

All oddments were 1.5 to 4 percent dearer. Well spread competition with China, Western Europe and India principals supported by Australasia, Middle East and United Kingdom.

Next sale on 8th March comprises approximately 17,700 bales from the North Island and 8,600 bales from the South Island.

ENDS

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