Wool Market Corrects

Wool Market Corrects

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that at today’s North Island wool sale prices took a sharp correction against previous weeks as exporters finished buying for Chinese orders. This combined with a recent quiet period of business and a rise in the New Zealand dollar have all contributed to this price correction.

Compared to the last North Island sale held on the 2nd offering and Fine Crossbred Fleece was 5 to 5.5 percent cheaper.

Fine Crossbred Early Shorn and Second Shear 31 micron 3 to 5 and 3 to 4 inch remained firm. Coarse Crossbred Fleece of nominal 32 micron 3 to 5 to 3 to 4 inch was 4.5 percent cheaper while 33 to 35 micron3 to 5 to 2 to 4 inch was 6 to 7 percent cheaper.

Coarse Crossbred Early Shorn and Second Shear 37 micron and coarser 3 to 5 to 2 to 4 inch was 5 percent cheaper while 2 to 3 inch was 3 percent cheaper.

Crossbred Combing Oddments were 5 percent cheaper while Clothing Oddments, average colour were 5 percent cheaper and poor colour were 2.5 percent cheaper.

Next sale on 23rd October comprises approximately 8,800 bales from the South Island.

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