Wool Demand Outstrips Supply

Wool Demand Outstrips Supply

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that strong buying interest for quick shipment underpinned this week’s wool market for the 13,789 bales on offer from both Islands.

Currency played a minor role despite the New Zealand dollar’s volatility with the indicator for the main trading currencies practically unchanged at 0.6898 compared to the last sale on 29th January.

Of the offering 90.8 percent sold with most unsold wools coming from the Mid Micron selection.

Mr Dawson advises that there were some inter Island variations in price direction in some sectors, with an overall firm to dearer trend.

Fine Crossbred Fleece were generally firm to 3 percent dearer with shears firm to 4 percent stronger.

Coarse Crossbred Full Fleece were firm to 3 percent dearer except poorer styles in the North which were up to 2 percent cheaper.

Coarse Shears were firm to slightly dearer except short poor styles in the North which were up to 2 percent easier.

Lambs Fleece ranged from 1 to 5 percent dearer with wide spread competition.

Long Oddments were firm to slightly easier with short types ranging from 2.5 percent softer to 2.5 percent dearer depending on selling centre, colour and micron.

Strong competition with China, India, Australasia and the Middle East principals, supported by Western Europe and the United Kingdom.

Next sale on 12th February comprises approximately 6,900 bales from the North Island and 5,700 bales from the South.

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