Wool Holds Firm

Wool Holds Firm

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island Wool auction comprising 14,300 bales saw some movement each way; however was generally firm overall with a clearance of 93.6 percent.

The weighted indicator for the main trading currencies strengthened 0.75 percent having little impact on local prices with underlying demand and limited supply the main drivers.

Mr Dawson advises that a nominal offering of Mid Micron Fleece were firm to 3 percent dearer. Fine Crossbred Fleece ranged from firm to 4.5 percent stronger with the finer end affected the most. Fine Crossbred Shears were firm to 3 percent easier.

Coarse Crossbred Fleece and Shears were firm to 1% firmer. Long First Lambs were up to 1 percent dearer with shorter types 1 to 2 percent cheaper.
Long Oddments were slightly firmer overall with short oddments up to 2 percent easier.

Good competition with Australasia, China and the Middle East principals, supported by Western Europe, United Kingdom and India.
Next sale on 1st August comprises approximately 6,100 bales from the South Island.

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