Wool Market Steadies

Wool Market Steadies

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combination of an easier New Zealand dollar and slightly improved business activity caused prices to generally increase across the board.

The combined North and South Island offering comprising 13,900 bales saw a 79 percent clearance, which is the highest clearance rate this season. The weighted indicator for the main trading currencies was down 0.85 percent.

Mr Dawson advises that Mid Micron Fleece 25 to 30.5 micron were 1.5 to 2.5 percent stronger. Fine Crossbred Fleece 33 to 35 micron were 3 to 4 percent stronger. Longer Fine Crossbred Shears increased 4 to 6 percent with the shorter types 2 to 4 percent dearer.

Coarse Crossbred Fleece and Shears were firm to 3 percent dearer.

A small selection of first lambs were nominally 1 to 2 percent firmer.

Coarse Long Oddments remained firm, however the shorter types were strongly contested with 2 to 4 inch wools increasing 6 to 10 percent and 2 to 3 inch up 2 to 4 percent.

Wide spread interest with China, India and the Middle East dominating, supported by United Kingdom, Western Europe and Australasia.

The rostered sale on 23rd August has been cancelled due to poor weather stopping shearing. The next sale is on 30th August comprising approximately 8,400 bales from the South Island.

© Scoop Media