Wool Market Slightly Easier

Wool Market Slightly Easier

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the first wool auction of the 2015/16 season offering 6,800 bales comprising predominantly 80 percent short second shear wools, saw a 92 percent clearance with a slightly softer tone.

Despite a weaker New Zealand dollar compared to the last sale on 25th June, with the weighted currency indicator down 1.96 percent, the bulk of the offering was firm to 2 percent easier.

Mr Dawson advises that the seasonal slow-down in order, approaching European vacation period and well stocked supply lines in China are limiting new orders for wool temporarily.

Fine Crossbred Shears were firm to 2 percent cheaper.

Good Colour Coarse Fleece were 1.5 percent down with average style firm to 1 percent firmer. Poor styles were up to 1 percent cheaper. Longer Coarse Shears were firm to 1 percent dearer with good colour short types firm to 3 percent dearer.

Oddments ranged from 2 percent cheaper to 3.5 percent dearer.

Good competition with exporters continuing to cover orders mainly destined to China, Australasia and Western Europe, supported by India, United Kingdom and the Middle East.

Next sale on 16th July comprises approximately 7,800 bales from the South Island.

ENDS

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