Wool Market Continues Upward Trend

Market Continues Upward Trend

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 7,400 bales on offer in the North Island today saw strong demand largely due to the lack of wool coming forward onto the market as a result of recent drought and in particular in the South Island wet weather conditions delaying shearing.

The weighted indicator to the main currencies is relatively unchanged compared to last South Island wool sale.

A reasonable offering of Fine Crossbred Early Shorn and Second Shear 3 to 5 inch and 3 to 4 inch wool of 35 and 36 micron were fully 4 percent dearer, whilst the shorter 2 to 4 and 2 to 3 inch were only 1 percent dearer.

Coarse Crossbred Fleece was 3 to 4 percent dearer.

Coarse Crossbred Early Shorn and Second Shear 3 to 5 and 3 to 4 inch were fully 3 to 4 percent dearer, with the shorter 2 to 4 and 2 to 3 inch 1 percent dearer.

A limited offering of Lambs Wool was 2.5 percent dearer.

Combing Oddments which were of limited offering were 5 percent dearer, whilst a good selection of Clothing Oddments were firm.

Strong competition with China, Australasia Carpet Mills, Europe and the Indian continent.

Next sale on 27th June 2013 comprises approximately 13,000 bales from the North Island and 9,500 bales from the South Island.

ENDS

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