NZWSI Market Report: Wool Price Jumps

WOOL PRICE JUMPS

New Zealand Wool Services International Limited’s CEO, Mr John Dawson reports that a weakening New Zealand dollar and steady off-shore buying interest saw all wool types improve for the South Island offering of 5,300 bales with 88 percent selling.

The weighted indicator for the main trading currency came down 3.08 percent compared to the last sale on 3rd March.

Mr Dawson advises that compared to the last time sold on 3rd March, Fine Crossbred Full Fleece was 4 to 6 percent dearer with Early Shorn and Second Shears 10 to 12 percent stronger.

Good colour Coarse Crossbred Full Fleece was 5 percent stronger with poorer styles improving by 10 to 12 percent. Longer shears were 3 to 7 percent dearer and shorter shears increased by 5 percent.

Combing Oddments were 3 to 9 percent firmer with Clothing Oddments increasing by 7 to 12 percent.

Strong competition with China principal, supported by Western Europe, Australasia, Middle East and India.

Next sale on 16th March comprises approximately 6,600 bales from the South Island and 11,900 from the North Island.

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