Prices remain firm at South Island wool sale

News release
Prices remain firm at South Island wool sale

New Zealand Wool Services International Ltd reports that this week’s sale of South Island wool, held in Christchurch today, saw the market resist the stronger New Zealand dollar and generally hold its ground.

Since the previous wool sale on 10 July the New Zealand dollar has traded two per cent stronger against the United States dollar.

Compared to the last sale, all types traded in the coarser categories remained solid, with only the mid micron sector struggling.

Fine wool last traded on 26 June. At today’s sale the finer end of the mid micron sector eased by up to 2.5 per cent compared to prices on that date.

New Zealand Wool Services International reports that fine crossbred wools, better style crossbred fleece and longer crossbred shears all remained firm. Only the poorer style fleece lines eased slightly in price. Shorter shears strengthened by one per cent.

Long lambs’ fleece also gained by up to two per cent, with the shorter types remaining solid.

Oddments were generally firm to three per cent.

With recent adverse weather conditions impacting on shearing patterns, anticipated wool flows have been disrupted, resulting in the cancellation of next week’s scheduled 24 July wool auction.

The next auction is therefore on 31 July, offering 13,000 bales in the South Island and 10,000 bales in the North Island.

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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