Steady wool market

Steady wool market

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the more restricted wool type offering in the North Island sale of 6,165 bales saw a 97 percent clearance and a generally steady market.

The weighted indicator for the main trading currencies firmed 1.66 percent compared to the last sale on 24th September only impacting on the finer end of the offering.

Mr Dawson advises that the stronger New Zealand dollar and limited interest in the Fine Crossbred longer wools saw prices ease 2 to 4 percent with shorter types better supported with pries 1 to 3.5 percent softer in local terms.

The currency had minimal impact on the coarser wools due to strong local mill interest with Coarse Full length fleece firm to 1.5 percent dearer.

Coarse Shears were 1.5 to 4 percent stronger with the shorter types sought after the most.

Long Oddments were 4 to 6 percent dearer with short types 1.5 to 2.5 percent easier.

Strong competition with China and Australasia dominating, supported by Western Europe, United Kingdom and the Middle East.

Next sale on 8th October comprises approximately 7,500 bales from the South Island.

ENDS

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