Wool Market Firms

Wool Market Firms

New Zealand Wool Services International Limited’s Marketing Executive, Mr Malcolm Ching reports that the 7,500 bales of North Island wools on offer this week saw a 97 percent clearance and a generally dearer market.

The weighted currency indicator for the main trading currencies eased again compared to the last sale on 27th August, coming down 0.92 percent, mainly due to the US dollar influence.

Mr Ching advises that apart from the finer end of the Fine Crossbred longer shears which came down 2 to 4 percent, the balance of this category ranged from 3 to 7 percent dearer with shorter types benefiting the most.

Coarse Crossbred Fleece were firm to 2.5 percent firmer with better styles attracting the most support.

Coarse Shears were firm to 4.5 percent stronger with shorter types in strong demand.

Oddments were firm to 1.5 percent dearer.

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

Next sale on 10th September comprises approximately 8,900 bales from the South Island.

ENDS

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