Demand For Coarser Types Bolsters Wool Prices

Demand For Coarser Types Bolsters Wool Prices

NZ Wool Services International Ltd reports that prices at today’s wool auctions fluctuated, as those types that were in demand resisted the strengthening currency.

Since the previous sale, on 4 February, the New Zealand dollar appreciated around 2.5 per cent against the main wool trading currencies. However, most types among the 18,500 bales on offer in Napier and Christchurch today stood firm against the full impact of this move.

According to NZ Wool Services International, the coarser types, which are in strong demand, completely ignored the negative currency factor to strengthen between one and two per cent.

Meanwhile, a small offering of merino wools did not reach sellers’ expectations, resulting in approximately 80 per cent of that offering being passed in.

Likewise, a small selection of mid micron fleece and fine crossbred fleece achieved prices one and two per cent below their previous level, with prices for the fine crossbred shears dropping two to four per cent.

Within the coarser carpet type wools, which made up the bulk of today’s offering, the average to poor style fleece and shears shorter than two to four inches were generally one to two per cent cheaper. All other coarse types were one to two per cent dearer, especially the better style, sounder wools.

First lambs’ wools were generally one to two per cent stronger. Oddments of all description eased in price between two and three per cent.

Main demand at today’s sales came from Australasian carpet mills, India, Western Europe and the Middle East, with support from China.

Next week’s auction, on 19 February, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 7,500 and 9,500 bales respectively.

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

© Scoop Media