Wool Wobbles

Wool Wobbles

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the unacceptably high NZ dollar, high customer stock levels and restricted demand is continuing to subdue wool prices. The market in New Zealand is following recent trends in other wool producing markets. Client confidence is at a low point as they wait for increased consumer demand particularly form Europe and U.S.A.

The weighted indicator for the main trading currencies hardly altered compared to the last sale on 4th April, strengthening by 0.18 percent.

Of the 12,426 bales on offer only 50.6 percent sold reflecting growers reluctance to sell at these discounted levels.

Mr Dawson advises that Fine Crossbred Fleece and Shears were 2 to 5 percent easier. Coarse Fleece eased by 3 percent. Coarse Shears 3 to 5 and 3 to 4 inches were 2 to 5 percent cheaper with the shorter types 1 to 4 percent easier.

Long First Lambs ranged from 2 to 7 percent cheaper with the shorter types 2 to 4 percent softer.

Combing Oddments and good style shorter types were firm to 2 percent cheaper.

Restricted interest with China and Western Europe principals, supported by Middle East, India and United Kingdom.

Next sale on 19th April comprises approximately 9,300 bales from the North Island.

ENDS

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