INDEPENDENT NEWS

South Island Wool Bounces

Published: Thu 28 Jul 2016 02:36 PM
South Island Wool Bounces
New Zealand Wool Services International LTDs CEO Mr John Dawson reports that despite a strengthening NZ dollar, the varied selection at this week’s South Island auction attracted strong support.
Of the 7700 bales on offer 85 percent sold.
The weighted currency indicator was up 2.06 percent compared to the previous week’s auction.
Mr Dawson advises that a selection ranging from 21 micron merinos to 42 micron coarse wools with a cross section of styles and lengths provided attractive options to buyers which overrode the possible negative impact of the stronger dollar compared to the similar South Island offering on 14 July.
Mid micron fleece were well supported with increased Chinese interest, lifting 4 to 12 percent.
Fine crossbred fleece and shears were 2 to 3 percent firmer.
Coarse crossbred full fleece lifted 3 percent for all styles with coarse shears ranging from firm to 3.5 percent dearer.
Oddments were up 3 to 5 percent.
Where comparable to last week’s North Island auction, levels are 4 to 7 percent higher.
Good competition with Australasia, Western Europe and China principals, supported by Middle East, India and United Kingdom.
Next sale on 4 th August comprises approximately 5,000 bales from the South Island.
ends

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