Wool under Pressure

Wool under Pressure

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island Wool sale offering 17,600 bales saw strong demand and increased price levels as urgent shipping requirements pressured the market. There was a 99 percent clearance rate.

The weighted indicator for the main trading currencies compared to the last sale on 10th January eased only 0.20 percent with no impact on the market.
Mr Dawson advises that recent increased demand requiring quick delivery and firming wool markets elsewhere stimulated today’s considerable lifts in some sectors.

Mid Micron Fleece firmed 1 to 3 percent. Fine Crossbred Fleece and Shears increased 3 to 8 percent. Coarse Crossbred Fleece and longer shears were 3 to 6 percent stronger, with shorter shears 7 to 9 percent dearer. First Lambs were generally 4 to 9 percent firmer. Long Crossbred Oddments ranged from 2 to 7 percent dearer with shorter types up 4 to 9 percent.

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

Next sale on 24th January comprises approximately 9,100 bales from the North Island and 6,200 bales from the South Island.

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