South Island Wool Prices Firm

South Island Wool Prices Firm

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that a slightly weaker New Zealand dollar and a wider range of better styled wools this week saw the market well supported in some sectors.

Of the 7,000 bales on offer, 76 percent sold with some growers holding out for better levels, particularly in the Lambs Fleece area.

The weighted indicator for the main trading currencies compared to last week was down 0.57 percent aiding local price levels.

Compared to last week’s less stylish North Island selection:

Fine Crossbred Fleece were nominally firm with shears 2 to 4 percent dearer. Good colour Coarse Crossbred Full Fleece were firm with average and poor styles 3 to 6 percent dearer.

Longer Coarse Shears were 3.5 to 6 percent firmer with shorter shears 5 to 6 percent stronger.

First Lambs ranged from 1.5 percent cheaper to 1.5 percent dearer.

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

Next sale on 26th May comprises approximately 8,100 bales from the North Island.

ENDS

© Scoop Media