NZWSI Market Report: Wool Market Continues to Ease
WOOL MARKET CONTINUES TO EASE
New Zealand Wool Services Marketing Executive Malcolm Ching reports that the 11700 bales of South Island wools on offer this week, which contained a high proportion of re-offered lots, saw targeted buying and only 46 percent selling as many growers are unwilling to accept current market prices.
The weighted currency indicator eased 0.66 percent having no impact.
Mr Ching advises that a falloff in buying activity recently, particularly from the Chinese traders and lower demand elsewhere with other wool exporting markets also experience price falls, has affected buyer confidence meantime.
Compared when last offered at the South Island sale on 23rd March; Fine crossbred fleece remained firm, good style coarse crossbred fleece 3.5 to 5 percent cheaper.
Compared to the North Island sale on 30th March; Fine crossbred shears were firm to 2.5 percent dearer, average style coarse fleece were 3 percent cheaper with poor styles 7 to 8 percent cheaper.
Good colour and longer shears were up to1.5 percent cheaper with average styles up to 3 percent dearer. Short shears were firm for better styles and up to 2.5 percent easier for other styles.
Finer first lambs were 1 to 4 percent cheaper with coarser lambs firm to 2.5 percent cheaper.
Poor style long oddments were 4 percent dearer with short oddments up to 2.5 percent dearer.
Limited activity with most exporters covering for old orders for China, Australasia, Western Europe and the Middle East.
Next sale on 12th April comprises approximately 6600 bales from the North Island.