Better result for wool prices

Better result for wool prices

New Zealand Wool Services International Ltd reports that prices increased for most categories at today’s wool sales, reacting to a slightly weaker New Zealand dollar, stronger demand and shipping pressure.

In the combined auction of North and South Island wool in Napier and Christchurch, 84 per cent of approximately 18,000 bales on offer sold.

Compared to the previous sale, on 18 March, the New Zealand dollar fell in value by 0.76 per cent against a weighted indicator of the main international wool trading currencies.

According to New Zealand Wool Services International, a limited supply of some types also saw additional gains, especially in the finer wool segment.

A small offering of mid micron wools between 26 and 30 micron strengthened by four per cent. The 32 to 35 micron wools also increased in price, ranging between two and ten per cent up, with the finer longer types attracting particularly strong interest.

Coarse crossbred fleece was firm to five per cent dearer, with the poorer styles in the South Island gaining the most after being ignored in recent weeks.

Coarse second shears were firm to two per cent stronger.

Lambs’ fleece ranged from 1.5 to six per cent dearer, with the longer types benefiting the most due to continued Chinese interest.

Oddments in the North Island remained firm, while the South Island equivalent types increased between two and four per cent.

Main interest today was from Australasian Carpet Mills, China, India and the United Kingdom, with support from Western Europe and the Middle East.

Next week’s auction, on Wednesday 31 March, will be in Christchurch only, consisting of 11,000 bales of South Island 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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