South Island Wool Market Remains Steady

South Island Wool Market Remains Steady

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 7,300 bales on offer this week saw a firm to dearer market with an 86 percent clearance rate.

The weighted indicator for the main trading currencies lifted slightly by 0.58 percent compared to the last sale on 20th February.

Mr Dawson advises that a steady flow of client buying interest recently and limited volumes of desirable wool types has combined to steady the market after the recent downward pressure.

Fine Crossbred Full Fleece remained firm. Longer shears ranged from firm to 3.5 percent dearer with shorter types also firm.

Good Colour Coarse Crossbred Full Fleece held steady with poorer styles recovering ground, lifting by 2 to 3.5 percent.

Longer Coarse Crossbred Shears were firm to 3.5 percent stronger. Shorter types were buyers favour to firm.

First Lambs Fleece were firm to 1 percent dearer.

Coarse long oddments were 3 to 4 percent stronger with short types 1 to 5 percent dearer.

Well spread interest with Australasia, Western Europe, India, United Kingdom principal, supported by Middle East and China.

Next sale on 6th March comprises approximately 11,700 bales from the North Island and 6,900 bales from the South Island.

ENDS

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