Limited supply pushes wool up

LIMITED SUPPLY PUSHES WOOL UP

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that seasonal limited wool supply and a generally weaker New Zealand dollar saw the 4,700 bales in the South Island sale well supported with an 85.6 percent clearance.

The weighted currency indicator compared to last sale on 28th April was down 0.69 percent, aiding the local market lift.

Mr Dawson advises that steady buying interest from Australasia and Western Europe is under pinning the market, particularly for better prepared wools.

Fine Crossbred Fleece and Shears were firm to 4.5 percent dearer.

Coarse Crossbred Fleece were 3 to 4 percent stronger with coarse shears 1 to 2.5 percent firmer.

Short Lambs were 1.5 to 6 percent dearer with combing lambs firm to 3.5 percent stronger.

Oddments were firm to 2 percent dearer.

Good competition from Australasia and Western Europe with support from Middle East, China and India.

Next sale on 12th May comprises approximately 4,750 bales from the North Island, down 37 percent on anticipated rostered quantity.

ENDS

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