Competition for Wool Remains Solid

Competition for Wool Remains Solid

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the North Island auction this week comprised 8,315 bales of which there was a clearance of 95 percent.

The market was solid over the bulk of the offering which comprised mainly of Crossbred Early Shorn and Second Shear types.

Exporters are still under some pressure to cover committed shipments in the short term this enabled the market to remain firm. The weighted currency indicator virtually had little change at 0.7553 only down 0.05 percent compared to last sale on 7th August.

Mr Dawson advises that good colour Fine Crossbred Fleece was strong with no change on a limited offering.

Fine Crossbred Early Shorn and Second Shear 33 to 36 micron, 3 to 5 inch and 3 to 4 inch eased to 1.5 percent to 2.5 percent.

A limited offering of Coarse Crossbred Fleece remained firm.

Coarse Crossbred Early Shorn and Second Shear 36 micron and coarser 3 to 5 inch and shorter were firm except 2 to 3 inch which were 1 to 2 percent dearer.

Crossbred oddments compared to last North Island sale on the 24th July 2014 were generally unchanged.

Next sale on 21st August comprises approximately 10,200 bales from the South Island only.

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