Wool Softer But Stabilising

Wool Softer But Stabilising

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 7,800 bales of North Island Wool on offer this week saw a 66.1 percent clearance with smaller price variations compared to the last sale on 27th April.

The weighted indicator for the main trading currencies weakened slightly by 0.37 percent again having minimal impact on the market.

A few targeted types were strongly contested with prices lifting in some areas.

Mr Dawson advises that a small selection of Fine Crossbred Shears were firm to 2 percent dearer.

Better Style Coarse Fleece continued to ease by up to 3.5 percent; however the average and poorer styles were firm to Buyers Favour. A limited offering of longer Coarse Shears were firm to 2.5 percent dearer with 3/4 inch Shears firm to 2.5 percent easier. Shears 2/4 inch and shorter, which made up the bulk of the offering were 4 to 6 percent cheaper.

First Lambs remained firm to 2 percent dearer.

Good Style Oddments were firm to 3 percent stronger with Poor Styles 4 to 7 percent cheaper.

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

Next sale on 10th May comprises approximately 10,750 bales from the South Island.

ENDS

© Scoop Media