Mixed prices in North and South Island wool sales

Mixed prices in North and South Island wool sales

New Zealand Wool Services International Ltd reports that prices were mixed at today¹s combined North and South Island wool auction, held in Napier and Christchurch.

The strengthening New Zealand dollar, which has risen one per cent against the United States dollar since the last sale last week, was the main influence on the market.

Prices for Otago and Canterbury mid micron wools eased between two and four per cent, responding to softer Australian sales. However, the more stylish and better prepared lines were strongly contested for local and European spinning, with some categories fetching prices above last week¹s levels.

According to New Zealand Wool Services International, fine crossbred fleece and hogget wools attracted limited interest from their traditional Chinese market, softening in price between 1.5 and four per cent. Wools containing high seed content were particularly heavily discounted. These wools are difficult to place in alternative markets, where 0.2 vegetable matter content is generally the maximum allowable.

Seasonal availability kept pressure on the coarse crossbred fleece wool sector, where prices held firm in the North Island and only eased by the currency factor in the South.

The main market strength was in the early shorn and second shear wools, where a large offering in the North Island held firm, while a limited selection in the South also only eased by the currency factor.

Combing oddments were well sought after, going against the trend and gaining by two to four per cent. The shorter types generally held their ground.

Next week¹s wool auction, to be held in Christchurch on 4 October, has 7,500 bales on offer, including a small selection of merino wool.

New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at http://www.nzwsi.co.nz. The full report is available by negotiation with the company.

-ENDS-

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