Wool Dips

Wool Dips

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that reasonable volumes on offer, a strengthening currency combined with recent limited client activity, saw local price levels reduce significantly in some sectors. Despite this most growers met the market with 91 percent of the 10,165 bales on offer being sold.

The weighted currency indicator moved up 0.65 percent compared to the last sale on 3rd December adding to the softer market.

Mr Dawson advises that;

Fine Crossbred Full Fleece were up to 3 percent cheaper with 3 to 5, 2 to 4 and 2 to 3 inch shears 1.5 to 4 percent easier and 3 to 4 inch resisting the trend, lifting up to 1.5 percent.

Coarse Crossbred Fleece were poorly supported, reducing 5 to 6 percent. Coarse Second Shears were down 3 to 5 percent.

Early season First Lambs Fleece were nominally 2.5 percent dearer.

Oddments were 4 to 6 percent cheaper.

Limited competition with covering for older contracts for China and Australasia prevalent, supported by Western Europe, Middle East, United Kingdom and India.

Next sale on 17th December comprises approximately 7,400 bales from the North Island and 6,000 bales from the South Island.

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