Strong North Island Wool Sale

Strong North Island Wool Sale

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that a stronger New Zealand dollar had little effect in dampening prices as exporters bought to cover close in contractual obligations. Recent poor weather and reduced wool supplies contributed to the strong demand.

The 9,800 bales comprised mainly woollen types 3/4 inch and shorter and saw a clearance level of 96 percent.

The weighted indicator for the main currencies compared to the last sale on the 5th June was up 2.23 percent.

Compared with the similar offering in Napier on the 29th May, second shear all styles 3/4 inch and shorter and related oddments were up to 3 percent dearer. These categories made up 80 percent of the offering.

Longer wools all styles compared with last week’s South Island sale were generally unchanged.

China supported by India, Western Europe and Australasian carpet mills were the principal buyers.

Next week’s South Island sale has been cancelled. The next sales, the final sales for the 2013/14 season will be held in both the North and South Island on the 26th June, rostered for 10,500 and 14,000 bales respectively.

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