Strong Market Continues

Strong Market Continues

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that a good positive wool sale was held in Napier today with an offering of 9,200 bales mainly consisting of Hogget and autumn shorn Second Shears. 25.9 percent Hogget’s and 42.6 percent crossbred autumn Second Shears, carpet types.

The impact from the US dollars weakening from .6512 due to the devaluing of the Chinese Yen today to .6612 has had little effect as exporters chose to cover their contracts for immediate shipment.

Today’s market saw 33 micron 2 to 4 inch 1.5 percent dearer, 2 to 3 inch 3 percent dearer, 34 micron 2 to 4 inch 4 percent dearer and 2 to 3 inch 1 percent dearer.

A very limited offering of Crossbred Fleece 36 micron and coarser was 1 to 2 percent dearer.

Coarse Crossbred Early Shorn and Second Shear 36 micron, 3 to 4 inch was Buyers Favour, 2 to 4 inch 1 percent dearer, 37 micron 3 to 4 inch was firm and 2 to 4 inch 1 percent cheaper. 2 to 4 inch was firm.

Crossbred Clothing Oddments, good colour were 1 percent dearer.

Good competition with Western Europe, China and Australasia.

Next sale on the 20th August comprises approximately 9,200 bales from the South Island.

ENDS

© Scoop Media