Wool Prices on the Move

Wool Prices on the Move

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that recent increased buyer interest for quick shipment stimulated some prices to spike, with an overall dearer market.

Of the 8,940 bales on offer 93.7 percent sold. The weighted indicator for the main trading currencies eased by 0.41 percent compared to the last sale on 11th October, helping underpin the local markets strength.

Mr Dawson advises Fine Crossbred Fleece were generally unchanged, 3/5 to 3/4 inch were firm to Buyers Favour with 2/4 and shorter 4 to 7 percent dearer.

Coarse Crossbred Fleece were 2.5 to 5 percent stronger.

Second Shear 3/5 inch ranged from 1.5 to 4 percent dearer, 3/4 and 2/4 were 1.5 percent firmer with 2/3 inch wools strongly contested, lifting up to 8 percent.

Coarse Crossbred Oddments were generally up to 5 percent dearer.

Strong competition with China principal supported by India, Western Europe, Middle East, United Kingdom and Australasia.

Next sale on 25th October comprises approximately 9,200 bales from the South Island.

ENDS

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