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Wool Market Firm

Wool Market Firm

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the South Island sale this week saw a strong market with steady support.

Of the 9,250 bales on offer 84.4 percent sold.

The weighted indicator for the main trading currencies was down 0.72 percent compared to the last sale on 17th September, helping hold up local price levels.

Mr Dawson advises that in line with other Merino growing markets, local prices for Merino Fleece 18 to 23.5 microns compared to when last sold on 10th September, saw a slight easing with prices 2 to 6 percent cheaper.

Mid Micron from 24 to 28.5 microns were firm to 1.5 percent cheaper. Compared to the sale of 17th September, Fine Crossbred Full Fleece were 2.5 percent firmer and shear types 2 to 4 percent dearer, with the very short types under the most pressure.

Coarse Fleece were up to 2 percent firmer with Coarse shears firm to 2 percent dearer.

Oddments were firm to 2 percent stronger.

Well spread competition with Chinese interests continuing to dominate, supported by Western Europe, Middle East, Australasia and very limited activity from India and the United Kingdom.

Next sale on 1st October comprises approximately 6,000 bales from the North Island.

ENDS

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