NZWSI Market Report: North Isalnd Wool Market Settles Back

NORTH ISALND WOOL MARKET SETTLES BACK

New Zealand Wool Services International Ltd’s CEO Mr John Dawson reports that the North Island sale comprising 5553 bales saw a range of activity with 82 percent selling and mixed fortunes despite a more favourable currency factor.

The weighted indicator for the main trading currencies is 0.93 percent lower than the previous sale having limited impact. The targeted buying trend continues as Exporters purchase only to cover immediate shipments given the ongoing unsettled market environment and restricted Chinese interest.

Mr Dawson advises that compared to the last North Island sale on 20 October;

Fine Crossbred Fleece were 1 to 3 percent cheaper with Early Shorn and Second Shears ranging from 2 percent dearer to 3 percent cheaper with very targeted buying influence in this sector.

Coarse Full Fleece were 2 to 3 percent cheaper with Coarse Shears firm to 1 percent easier.

Good style Short Oddments were 2 to 4 percent cheaper and poorer styles firm to 5 percent cheaper.

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

Next sale on 10th November comprises approximately 5750 bales from the South Island.

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