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Wool Prices Bounce

Wool Prices Bounce

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that a weaker New Zealand dollar, limited wool volumes pressuring exporters and renewed client interest, combined to lift local prices across the board.

Of the 6,350 bales on offer, 99 percent sold.

The weighted indicator for the main trading currencies was down 1.79 percent compared to the last sale on 30th April.

Mr Dawson advises that Fine Crossbred Full Fleece and longer shears were 7 to 10 percent dearer, stimulated by resurgent Chinese interest with shorter types 3 to 6 percent firmer.

Coarse Crossbred Full Fleece and longer shears were 5 to 11 percent dearer with shorter types 4 to 8 percent stronger.

Lambs Fleece lifted 4 to 6 percent.

Good colour short oddments were 8 percent dearer with poorer styles up 8 to 12 percent.

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

Next sale on 14th May comprises approximately 4,600 bales from the North Island, down 32 percent on anticipated rostered volumes.

ENDS

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