Prices mixed at North Island wool sale

News release -

Prices mixed at North Island wool sale

New Zealand Wool Services International Ltd reports prices at today’s auction of North Island wool in Napier were mixed as demand for some types was negated by a higher New Zealand dollar.

Since the previous sale on 30 April the New Zealand dollar has strengthened by 2.5 per cent against a weighted indicator of the main wool trading currencies.

Of 11,160 bales on offer today, 64 per cent sold.

According to New Zealand Wool Services International, while the stronger New Zealand dollar negatively influenced some sections, local demand for selected coarse carpet wool types produced a welcome exception to this trend, generally increasing prices in overseas currency terms.  

Fine crossbred fleece and longer shears rose between three and five per cent, with the shorter shears easing by 1.5 to three per cent.

A limited volume of coarse carpet fleece was under strong demand from local carpet makers, resulting in prices for the good styles going up between 3.5 and 12 per cent. Poorer styles also rose two to four per cent, with average coloured wools improving the most.

Longer early shorn shears gained between 2.5 and four per cent. Shorter shears were less well sought after, easing 1.5 to 2.5 per cent.

While lambs’ fleece of 30 micron and finer was firm to 2.5 per cent cheaper, the higher volume of coarser short lambs’ fleece on offer proved harder to place, dropping in price between five and eight per cent. Combing oddments strengthened one per cent, although the shorter types finished two to four per cent cheaper.

Most significant buyer interest at today’s sale was from Australasian Carpet Mills, China and India. Support from elsewhere was limited.

Next week’s sale of South Island wool is on 14 May, in Christchurch, offering approximately 17,100 bales, significantly higher than has been rostered due to brokers bringing back wool that has been passed in at previous auctions.

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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