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Wool Continues To Strengthen

Wool Continues To Strengthen

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that apart from a small selection of finer Crossbred Hogget Fleece which eased in value, the balance of the 7,260 bales of wool on offer at the South Island sale improved with some Merino Wools lifting significantly.

With a clearance of 90 percent of the offering and a weighted currency indicator that only eased 0.30 percent, the firmer market is attributed to Exporter shipping requirements and slightly more interest from China.

Mr Dawson advises that 21 Micron Merino Fleece were firm to 3 percent dearer with 21.5 to 23 micron strongly contested, lifting 10 to 13 percent compared to the last time sold on 15th August.

Compared to the last sale on 22nd August, Mid Micron Fleece 24 to 28.5 micron were up to 3 percent dearer with 29 to 31.5 micron 1.5 percent firmer.

Fine Crossbred Full Fleece 32 and 33 micron received minimal attention, dropping by 2.5 to 6 percent with 34 and 35 micron lifting 1 to 2 percent. Fine Crossbred Shears were 1 percent firmer. Coarse Crossbred Fleece were 1 to 2 percent dearer with Early Shorn and Second Shear 1 to 2.5 percent stronger.

Combing Oddments remained firm with shorter oddments ranging from firm to 2.5 percent dearer.

Limited activity with China and Western Europe dominating, with Australasia, Middle East, India and the United Kingdom in support.

Next sale on 5th September comprises approximately 9,600 bales from the North Island.

ENDS

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