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Prices appreciate at South Island wool sale

News release –

Prices appreciate at South Island wool sale


NZ Wool Services International Ltd reports that prices at today’s auction of South Island wool in Christchurch saw most types strengthen.

Currency fluctuation created minimal impact on the market today: since the previous sale on 26 March, the New Zealand dollar has risen in value against the main wool trading currencies by just 0.15 per cent.

With 61 per cent of the 8,647 bales on offer sold, limited quantities and a high passing rate contributed to today’s generally stronger tone.

According to New Zealand Wool Services International, prices for fine crossbred fleece rose by one to two per cent, with the shear types 32 and 33 micron 1.5 to four per cent dearer. The 34 and 35 microns were in limited demand, easing between one and two per cent.

Coarse carpet type wools received mixed attention. Prices for B/BB style fleece appreciated between four and six per cent. Volume exceeded demand for average style fleece, resulting in price reductions of between five and seven per cent. Recovering from a low base, prices for poorer style B/C fleece rose by three to four per cent.

Coarse shears met limited support, easing between one and 2.5 per cent.

Fine short first lambs’ wools under 29.5 micron were up to three per cent dearer, with coarser microns one to two per cent cheaper.

Prices for lambs’ wool longer than three to four inches were up by one to two per cent.

Combing oddments were one to three per cent dearer, with the shorter types in heavy demand, appreciating between four and seven per cent.

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Most significant buyer interest at today’s sale was from China, Australasia and the Middle East, with support also from India, Western Europe and the UK.

The next New Zealand wool auction, of North Island wool only, will be held on Wednesday 8 April, comprising approximately 11,000 bales in Napier.

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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