Mixed Support at Wool Auctions

Mixed Support at Wool Auctions

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island offering of 8,800 bales saw a mixed reaction with targeted buying and an 89 percent clearance.

The weighted indicator for the main trading currencies eased 0.96 percent compared to the last sale on 27th November with the NZD/USD rate dropping 1.64 percent. Currency played some role in the market this week however was tempered by specific type buying to meet shipping requirements leading up to the Christmas break. A mixed selection end of season Merino wools were poorly supported with a high degree not sold.

Mr Dawson advises that compared to 20th November, Merino Fleece were nominally 4 to 5 percent cheaper with Mid Micron wools generally firm. Compared to the sale on 27th November, Fine Crossbred Fleece and Shears were firm to 2 percent dearer.

Good Colour Fleece and Early Shorn wools were firm to 2 percent dearer with average and poor styles generally 2 to 5 percent cheaper.

Short Shears were firm to 3 percent easier. A nominal offering of early season Lambs Fleece were 1.5 percent dearer.

Oddments ranged from firm to 5 percent dearer.

Limited competition with China dominating, supported by Western Europe, Australasia, India and the Middle East.

Next sale on 11th December comprises approximately 5,000 bales from the North Island.

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