Wool Holds Its Ground

Wool Holds Its Ground

New Zealand Wool Services International Ltd’s General Manager, Mr John Dawson reports that despite local and overseas expectations of a much weaker market this week’s North Island wool auction generally remained firm to only slightly easier.

The resurgent New Zealand dollar accounted for most of the local market slight weakness in some sectors, however in overseas terms most prices are unchanged or slightly dearer.

Of the 9,879 bales on offer 87 percent sold.

The weighted currency indicator lifted by 0.59 percent compared to the last sale on 26th Mr Dawson advised fine crossbred fleece and shears were firm to 1 percent easier. Coarse crossbred good colour fleece was up to 1 percent dearer. Coarse shears were firm to 1.5% easier. End of season lambs fleece were nominally firm to 1 percent softer. Short oddments ranged from firm to 4 percent easier.

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

July comprises approximately 10,060 bales from the South Island.

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