Better Wools Firm

BETTER WOOLS FIRM

New Zealand Wool Services International Ltd Marketing Executive, Malcolm Ching reports that the 5,100 bales of South Island wools on offer this week saw strong competition and a 90.5 percent clearance.

The weaker New Zealand dollar compared to last sale on 29th October aided local prices, with the weighted currency indicator down 1.43 percent.

Mr Ching advises that the generally less stylish Merino Fleece compared to the last time offered on 22nd October saw the 19.5 micron and finer wools upto 6 percent cheaper with 20 to 23.5 microns upto 3 percent firmer.

Mid Micron fleece 24 to 26 microns were 1 to 4 percent dearer with 27 to 29.5 microns strongly contested, lifting 8 percent.

Compared to the North Island sale on 29th October, fine Crossbred fleece 32 to 35 microns were 3 to 6 percent dearer with shear types 1.5 to 5 percent dearer. Coarse full fleece were 4 to 5 percent stronger with 3 to 5 and 3 to 4 inch shears 1.5 to 3 percent firmer. Shorter types eased by 1.5 percent. Long oddments were 4 to 6 percent dearer with shorter types 1 to 5 percent dearer.

Good Competition with China and Western Europe supporting the fine wool sector, China dominating the fine crossbreds and Australasia strongly supporting the coarse wools. Limited support from Western Europe, Middle East and India.

Next Sale on 12th November comprises approximately 5,100 bales from the North Island.

ENDS

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