Wool Attracts Mixed Interest

Wool Attracts Mixed Interest

New Zealand Wool Services International Limited’s Marketing Executive, Mr Malcolm Ching reports that a varied selection and stronger New Zealand dollar saw winners and losers for the 10,900 bales on offer at this weeks’ South Island auction. 66 percent sold with the majority of the passed-in lines containing higher degrees of vegetable matter, reflecting limited interest in these wools currently.

The currency indicator compared to last week was 0.68 percent stronger, however against the GBP the NZ dollar has lifted 9.3 percent which accounts for most of the indicators movement. Mr Ching advises The Brexit impact and continued limited Chinese demand has created targeted purchasing with Mid Micron wools 1 to 3 percent cheaper and First Lambs up to 10 percent weaker compared to last offering in the South Island on 16th June.

Compared to last weeks’ North Island selection on 23rd June:

Fine Crossbred Fleece were firm to 1.5 percent cheaper with Fine Crossbred Shears 1 to 3.5 percent dearer.

Coarse Crossbred Full Fleece were firm to 2 percent easier.

Longer Coarse Shears were 2 to 3.5 percent dearer with shorter shears firm to 1 percent cheaper.

Oddments were firm to 5 percent cheaper.

Limited interest with Australasia, Western Europe and Middle East principals, supported by India, China and the United Kingdom sparingly.

Next sale on 7th July comprises approximately 7,300 bales from the North Island.

ENDS

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