Market remains firm in North Island wool sale

Market remains firm in North Island wool sale

Market remains firm in North Island wool sale New Zealand Wool Services International Ltd reports that today's auction of North Island wool, in Napier, was met by a generally strong, well-contested market.

A rise in the value of the New Zealand dollar against the United States dollar, up slightly since the previous wool sale last week, had little impact, with supply and demand factors dictating prices.

Hogget full fleece wools remained firm, however the shorter lengths increased in price by up to 1.5 per cent.

According to New Zealand Wool Services International, coarser carpet fleece types favoured the seller, with the only area not fully supported being the coarse shear types, which eased by up to 1.5 per cent.

Oddment categories received widespread interest, easily remaining firm.

Next week's South Island sale will be held in Christchurch on 1 November, consisting of 9,700 bales.

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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