Wool Market Stabilises

Wool Market Stabilises

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the 9,500 bales from this week’s South Island offering saw a 74.5 percent clearance with prices now coming into line with last week’s North Island levels.

The weighted currency indicator was up 0.56 percent, having minimal impact.

Mr Dawson advises that compared to the last sale on 14th April prices for Fine Crossbred Full Fleece were firm with shears firm to 2 percent easier.

Coarse Crossbred Full Fleece remained firm and shears were firm to 1.5 percent easier.

First Lambs saw 2 to 3 inches up to 1 percent firmer, 2 to 4 inches 2.5 percent cheaper and 3 to 4 inches firm.

Long Oddments were firm to 2 percent dearer with short types up to 4 percent stronger.

Significant discounts still apply for high seed content lines.

Limited competition with buying for Chinese interests dominating, supported by Australasia, Western Europe, Middle East and India.

Next sale on 28th April comprises approximately 5,100 bales from the North Island.

ENDS

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