Firmer Wool Prices

Firmer Wool Prices

New Zealand Wool Services International Limited’s Marketing Manager, Mr Paul Steel reports that the slightly easier New Zealand dollar and increased international demand combined to improve most wool prices this week. Of the 12,100 bales on offer 79 percent sold.

The weighted indicator for the main trading currencies dipped 1.2 percent, helping local price levels.

Mr Steel advises that recent lower market levels and slowly reducing stock levels in the manufacturing pipeline have helped stimulate recent buying with China beginning to lift their activity.

Fine Mid Micron Fleece under 28 microns were firm to 3 percent easier with the coarser end 2 to 4 percent dearer.

Fine Crossbred Fleece gained 2 to 3.5 percent reflecting Chinese interests. Good Style Coarse Crossbred Fleece remained firm with average styles firm to 3 percent dearer.

Coarse Shears were generally firm to 1.5 percent stronger except the 2 to 3 inch wools which lifted 3 percent.

A nominal offering of First Lambs were firm to 1.5 percent dearer.

Oddments came under strong competition lifting 6 percent for all categories.

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

Next sale on 6th September comprises approximately 8,500 bales from the North Island.

ENDS

© Scoop Media