Wool Eases Slightly

Wool Eases Slightly

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 7,000 bales of South Island wools on offer this week saw a slightly easier market overall with an 82 percent clearance.

The weighted indicator for the main trading currencies lifted 0.21 percent to the downward pressure on local prices.

Mr Dawson reports that the Northern European summer break and continuing pressure on China’s internal economic situation is limiting the market at present as exporters cover for immediate shipment commitments only.

The Fine and Coarse end of the Mid Micron Wools were firm to 2.5 percent dearer, with only the 26.5 to 27.5 types 1 to 3.5 percent cheaper.

Fine Crossbred Full Fleece were firm to 3 percent cheaper with shorter types firm to 2 percent easier.

Coarse Crossbred Full Fleece and longer shears eased by 1 percent with the shorter types coming back 2 to 4 percent.

A nominal offering of First Lambs were firm to 4 percent cheaper.

Limited competition spread mainly between China, Australasia and the Middle East with support from Western Europe, India and the United Kingdom.

Next sale on 8th August comprises approximately 5,400 bales from the South Island.

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