Wool sale experiences mixed results

Wool sale experiences mixed results on stronger kiwi dollar

NZ Wool Services International Ltd reports that today’s South Island wool auction encountered a variable market.

Since the previous sale, on 11 March, the New Zealand dollar has strengthened in value against a weighted indicator of the main international wool trading currencies by 1.31 per cent, which affected some wool types but not others.

Of today’s offering, comprising approximately 9,500 bales, 80 per cent sold.

Fine crossbred wools ranged between one per cent cheaper and two per cent dearer today, as buyers sought to meet current shipments to China.

Good style coarse fleece and shears were in demand, with prices being firm to 1.5 per cent dearer. Prices for average and poorer styles, which were available in larger volumes, eased between two and three per cent.

Lambs’ fleece ranged from 1.5 per cent cheaper to 2.5 per cent dearer, with the coarser end making the greatest gains. Long oddments softened one to two per cent, with the shorter types between two per cent cheaper to one per cent dearer.

Demand at today’s sales was strongest among buyers from Australasian carpet mills, China and India, with Western Europe, the Middle East and the United Kingdom in support.

Next week’s auction, on 25 March, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 8,950 bales and 9,900 bales respectively.

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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