Mixed Results For Wool
MIXED RESULTS FOR WOOL
New Zealand Wool Services International Ltd’s CEO Mr John Dawson reports that the North Island auction comprising 9400 bales, which was 2000 bales above anticipated roster, saw a 93 percent clearance with a continuation of targeted buying. With price levels at lowest levels for several seasons, buying activity from some sectors has been stimulated for specific types, resulting in price lifts for target wools, however there were further reductions for out of favour types.
The weighted indicator for the main trading currencies was 1.03 percent up on last week, having minimal impact locally.
Mr Dawson advises compared to last North Island selection on 1st December;
Finer crossbred fleece were firm with longer fine shears firm to 6 percent dearer and short shears 2.5 to 4 percent cheaper.
Medium crossbred 3/5 and 2/3 inch shears were 1.5 to 4 percent cheaper with 3 /4 and 2/4 inches firm to 1 percent dearer.
Good colour coarse fleece were firm, average 2.5 to 3.5 percent cheaper and poor colour 5 percent cheaper. Coarse shears 3/5, 2/4 and 2/3 inches were 1 to 4 percent cheaper with 3 / 4 inches 2.5 to 4 percent dearer.
Short oddments were 8 to 10 percent dearer.
Compared to last week’s South Island sale, all types are still below prices for this auction.
Good competition with Australasia, China and Western Europe principals, supported by Middle East, India and the United Kingdom.
Next sale on 15th December comprises approximately 6000 bales from the North Island and 7000 bales from the South Island.