Wool Prices Show More Optimism

Wool Prices Show More Optimism

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island wool sales comprising 15,200 bales saw the finer types well supported on renewed interest from China. The coarser wools were generally firm to slightly easier.

With the better tone 62 percent of the offering sold. The weighted indicator for the main trading currencies eased by 0.76 percent compared to the last sale on 19th July.

Mr Dawson advises that Mid Micron wools 25.5 to 31.5 micron were firm to 3 percent dearer. Fine Crossbred 33 to 35 micron 2 to 4 inches and longer were firm to 8 percent dearer with the 3 to 4 inch bracket appreciating the most. The 2 to 3 inch types were the only area to weaken, by up to 3 percent.

Crossbred Fleece 36 microns and coarser were firm to 3 percent easier. Coarse Shears were 1 to 3 percent cheaper except the 3 to 4 inch bracket which came back 3 to 5 percent.

First Lambs attracted good competition with the longer types 4 to 7 percent stronger and shorter types firm to 2.5 percent dearer.

Long Coarse Oddments were firm overall with the short types firm to 4 percent dearer.

Well spread activity with China principals supported by Western Europe, India and the Middle East.

Next sale on 2nd August comprises approximately 8,250 bales from the South Island.

© Scoop Media