Restricted Demand Dips Wool Prices

Restricted Demand Dips Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that subdued overseas interest leading into shipping requirements over the coming Christmas vacation period saw targeted buying with most types easing.

The weighted indicator for the main trading currencies firmed by 0.45 percent compared to the previous week’s sale contributing slightly to the softer local market levels.

Of the 6,200 bales on offer 90 percent sold as most growers meet the market.

Mr Dawson advises that compared to the last North Island sale on 13th November the softer end of the Fine Crossbreds fared the best ranging from firm to 5 percent dearer. Other types in this category were generally 1 to 3 percent easier.

Full length Coarse Crossbred Fleece and longer shears were 2.5 percent softer with short shears firm.

Long Oddments were generally 3 percent cheaper.

Good colour short oddments also fared well lifting 6 to 8 percent with poorer styles firm to 3 percent dearer.

Compared to last week’s South Island sale, all categories were generally 2 to 3 percent cheaper.

Limited competition with China continuing to dominate, supported by India, Australasia, Middle East and Western Europe.

Next sale on 4th December comprises approximately 5,000 bales from the North Island and 4,300 bales from the South Island.

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