Wool Price Pressure

Wool Price Pressure

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that increased activity from China and India helped lift some wool sector prices significantly for the 11,700 bales on offer this week. There was an 88 percent clearance. The weighted indicator for the main trading currencies strengthened 0.68 percent with market demand overriding this potentially negative influence.

Mr Dawson advises that Merino Fleece followed the Australian market trend over recent sales, increasing 10 to 15 percent.

Mid Micron Fleece 24.5 to 26 micron were less in demand, easing by 1 to 2 percent with 26.5 to 31.5 micron firm to 3 percent stronger.

Fine Crossbred Full Fleece came under strong competition with prices generally 5 to 7.5 percent dearer. Fine Crossbred 3/5 and 3/4 inch shears were also strongly contested, lifting 6 to 10 percent. The shorter types barely changed.

Good Colour Coarse Crossbred Fleece were 3 to 5 percent dearer with average styles firm to 2 percent dearer. Coarse Long Second Shears were 3 to 5 percent firmer with shorter types generally 5 to 9 percent stronger.

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

Next sale on 1st November comprises a reduced volume of approximately 6,800 bales of North Island wools.

ENDS

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