Wool Market Generally Steady

Wool Market Generally Steady

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 10,200 bales of North Island wool on offer this week comprising 68 percent of Short Second Shear wools saw a generally firm tone and a 76 percent clearance. The weighted indicator for the main trading currencies lifted by 0.48 percent with minimal impact on the market. The US Dollar rate remained unchanged compared to the last sale in the South Island on 24th May.

Mr Dawson advises that compared to the 24th May sale, Fine Crossbred Fleece and Shears 33 to 35 micron were 2 percent dearer.

Due to the far larger volumes of Second Shear wools available this week (68 percent) compared to last week’s minimal South Island offering (6.7 percent) direct market comparison is practically impossible this week. Compared to last North Island sale on 17th May, Coarse Full Fleece and longer shears were 2 to 7 percent stronger with the shorter types remaining firm.

First Lambs were in solid demand, lifting by 2 to 5 percent.

Short Oddments remained comparatively firm.

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

Next sale on 7th June comprises approximately 9,600 bales from the South Island.

ENDS

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