Wool Market Remains Firm

Wool Market Remains Firm

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that seasonally limited wool volumes and steady customer interest saw targeted buying at this week’s South Island auction with mixed results but an overall firm tone.

Of the 5,400 bales on offer 85 percent sold. The weighted indicator for the main trading currencies weakened 0.58 percent compared to the last sale on 30th October, only having minimal impact on prices.

Mr Dawson advises that Full length, sound Merino Fleece were 2 to 4 percent dearer, with off lines and shorter, tender wools tending cheaper.

Mid Micron Fleece 24,25,29 and 30 microns were up to 4 percent cheaper with 25.5 to 27.5 microns remaining firm.

Fine Crossbred Fleece were 3.5 to 4 percent dearer with 3/5 and 3/4 inches 1 to 3.5 percent dearer. Fine Crossbred shorter shears firmed 1 percent.

Coarse Crossbred Full Fleece and 3/5 inches were 3.5 to 4 percent dearer. Shears 3/4 inches firmed slightly with shorter types unchanged.

Long Oddments remained firm with shorter types firm to 2.5 percent dearer.

Limited competition with China principal, supported by India, Australasia and Western Europe.

Next sale on 13th November comprises approximately 5,700 bales from the North Island.

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