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Mixed Market Shows Some Bright Spots

Mixed Market Shows Some Bright Spots

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the more varied offering at this weeks’ South Island auction saw targeted buying with better demand for the longer wools.

Of the 5,800 bales on offer 61 percent sold, reflecting the general slow-down in new orders coming forward and exporters only buying for immediate requirements.

The continuing strengthening of the New Zealand dollar saw the weighted currency indicator lift 1.87 percent week on week, limiting market opportunities.

Mr Dawson advises that compared to the South Island sale on 30th June, Mid Micron Fleece were 1 to 2.5 percent cheaper with Fine Crossbred Fleece down 3.5 percent. Compared to the North Island sale on 7th July, Longer Finer Crossbred Shears were 2 to 4 percent dearer with shorter shears firm to 1 percent cheaper.

Coarse Crossbred Full Fleece, good and average styles were 1 to 1.5 percent easier with poor styles 3 to 5 percent dearer.

Coarse Second Shears 2 to 4 inches to 3 to 5 inches were 2 to 5 percent firmer with shorter types firm.

Long Oddments remained firm with good colour short oddments 2 to 4 percent dearer.

Limited activity with Australasia and Middle East principals, supported by Western Europe, China and India.

Next sale on 21st July comprises approximately 6,000 bales from the North Island.

ENDS

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