Wool Prices Drift Off

Wool Prices Drift Off

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that quieter market and continued strong dollar again held the market back, compounded by local passed in volumes bolstering auction quantities.

Compared to the last sale on 29th March the weighted indicator for the main trading currencies was unchanged and 67 percent of the 12,577 bales on offer this week sold.

Mr Dawson advises that comparison between the North and South Island types is often difficult to achieve due to breed mix and varying climatic conditions with some North Island wools obtaining extreme colour readings. These wools were discounted by up to NZD1.00 per kg due to the difficulty in placing them in products.

Compared to the South Island sale on 29th March the Fine Crossbred Shears were nominally firm with the Coarse Fleece up to 1 percent easier.

Coarse Crossbred Shears were 2 to 3 percent cheaper with the shorter types affected the most. Longer and Coarser First Lambs were firm to 2 percent dearer with the finer shorter types up to 2 percent easier.

Oddments were firm to 1 percent cheaper except the very poor styles which were heavily discounted.

Limited competition with China and Western Europe principals, supported by India, Middle East and United Kingdom.

Next sale on 12th April comprises approximately 13,150 bales from the South Island.

ENDS

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