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Shortage Lifts Wool Market

Shortage Lifts Wool Market

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the combination of a slightly weaker NZ dollar compared to most main trading currencies; restricted wool supply and recent dearer wool markets in other countries aided the lift for most types at this weeks’ South Island auction.

Of the 8,340 bales on offer, 83 percent sold. The weighted currency indicator was 0.46 percent down on last sale of 2nd May but started the day below this level, strengthening as the sale progressed.

Mr Steel advises that although Mid Micron Fleece was up to 4 percent dearer compared to a nominal offering at the last South Island sale the indicator is down significantly due to consistently weakening prices for these types in other markets over previous weeks.

Fine Crossbred Fleece and Shears 3 to 4 inches and longer were 3 to 5 percent dearer with shorter types making a significant recovery of 5 to 8 percent after last weeks’ weakness in this area.

Coarse Crossbred Fleece and Shears were 2.5 to 5.5 percent stronger.

Finer First Lambs and longer Coarse Lambs Fleece were 2 percent dearer with Coarser Short Lambs 2 percent easier.

Long Oddments remained fully firm with Short Oddments 3 to 6 percent dearer.

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

The rostered North Island sale on 16 May has been cancelled due to insufficient wool. The next sale is in the South Island on 23 May comprising approximately 7,300 bales.

ENDS

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