Wool Market Drifts Lower

Wool Market Drifts Lower

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that a stronger New Zealand dollar and continuing sluggish demand saw the market generally ease further apart from some targeted types.

Of the 11,100 bales on offer at the North and South Island sales, 89 percent sold. There were some considerable price variations for comparable types between the two selling centres with the poorer style North Island wools coming down the most.

Compared to the last sale on 28th November the weighted indicator for the main trading currencies was up 0.81 percent.

Mr Steel advises that compared to the last time offered on 21st November a small offering of Merino Fleece were 2 to 3.5 percent firmer.

Mid Micron Fleece were 2 to 4 percent easier.

Compared to 28th November sale Fine Crossbred full fleece and shears 3 to 4 inches and longer were firm to 2 percent cheaper and shorter types ranged from 1 to 4 percent easier with the poorer styles affected the most.

Good and average style Coarse Fleece were firm to 4.5 percent cheaper with again poor styles in the North 6 to 7 percent weaker.

Coarse Crossbred Early Shorn and Second Shears were firm to 4 percent easier with the North Island types down the most.

A nominal offering of early season Short Lambs Fleece were firm to 2 percent dearer. Long Oddments were firm in the South and up to 9 percent easier in the North. Short Oddments were 2 to 6 percent cheaper.

Limited competition with most markets showing muted interest.

Next sale on 12th December comprises approximately 5,100 bales from the North Island which is 40 percent below the revised anticipated rostered quantity.

ENDS

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