INDEPENDENT NEWS

Wool Market Steady

Published: Thu 21 Jul 2016 02:17 PM
Wool Market Steady
New Zealand Wool Services International Limited’s CEO, Mr John Dawson reports that the North Island Wool Auction received revived support this week with an improved 81 percent of the 5700 bales selling.
The weakening NZ dollar across the board saw the weighted currency indicator fall 4.22 percent. Despite these positive factors, local prices were still below last week’s South Island auction, but only marginally under the last more comparative North Island selection.
Mr Dawson reports that compared to the North Island sale on the 7th July, fine crossbred shears ranged from 2 percent cheaper to 2 percent dearer. Coarse good colour full fleece were nominally firm with the average style 1 to 2 percent cheaper. Coarse crossbred early shorn were 1 percent cheaper, longer shears firm to 1 percent dearer with shorter types firm to 2 percent easier. Short oddment remained firm
Limited interest with renewed activity from Western Europe adding a steadying influence, supported by Australasia and the United Kingdom, with India, Middle East and China sparingly.
Next sale on 28th July comprises approximately 7400 bales from the South Island

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