Prices remain solid at North Island wool sale

Prices remain solid at North Island wool sale

New Zealand Wool Services International Ltd reports that prices at today’s sale of 8,341 bales of North Island wool, in Napier, continued the firming trend of recent weeks, despite a much stronger New Zealand dollar.

Since the previous auction on 15 May the dollar has risen 2.2 per cent against the United States dollar, while remaining generally unchanged against other major currencies.

Prices for fleece and second shear were generally firm compared to last week’s South Island wool sale, while the end of season selection of lamb’s wool was around one per cent cheaper.

According to New Zealand Wool Services International, supply continues to be a major factor in the firming price trend. This short supply scenario looks likely to continue over the next few months.

The main competition at the Napier sale came from the Australasian carpet mills, India, China and Western Europe.

The next North and South Island wool auctions will be held on Thursday 5 June.

New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at http://www.nzwsi.co.nz. The full report is available by negotiation with the company.

-ENDS-

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