Wool Eases Slightly

Wool Eases Slightly

New Zealand Wool Services International Ltds Marketing Executive, Mr Malcolm Ching reports the North Island offering of 6900 bales this week softened marginally despite a slightly favourable NZ dollar rate to the US dollar, with 76 percent of the selection selling.

The weighted indicator for the main trading currencies was down 0.90 percent week on week, having minimal local impact.

Mr Ching advises, compared to a similar offering at the South Island sale on 25th August;

Fine crossbred full fleece were 1 percent cheaper, fine crossbred early shorn were 3 to 4 percent cheaper with shorter shears 1 percent easier.

Coarse crossbred full fleece were 1 to 2 percent cheaper with longer early shorn wools down 3 percent.

Compared to the last time similar types were offered in the North Island on 11th August;

Coarse crossbred shears 3 to 4 and 2 to 4 inches were firm to 1 percent easier with 2 to 3 inches down 1 to 4 percent and levels in both Islands now becoming very similar.

Good style short oddments were firm to 3 percent cheaper with poor style down 3 to 7 percent.

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

Next sale on 8th September comprises approximately 10,700 bales from the South Island.

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