Wool prices firm

News release –

Wool prices firm  

New Zealand Wool Services International Ltd reports increased prices and a positive tone at today’s wool sales, despite a stronger New Zealand dollar.

In the combined auction of North and South Island wool in Napier and Christchurch, 80 per cent of approximately 9,400 bales on offer sold.

Since the previous sale, on 22 April, the New Zealand dollar has increased against the weighted indicator of the main international wool trading currencies by 1.64 per cent, which would normally have softened local prices, but was over-ridden today by supply and demand factors.

According to New Zealand Wool Services International, the fine crossbred fleece and shears were generally firm. Coarse crossbred full fleece was firm to 2.5 per cent dearer, with the second shear types firm to up one per cent up.

Prices for fine lambs’ fleece rose between two and four per cent, with the bulk of the coarser types one to two per cent firmer.

Price increases for long oddments ranged from one to three per cent, with the shorter types strongly contested, increasing three to six per cent.

Buyer competition today was widespread, with Australasia, China and the Middle East most prominent, supported by buyers from Western Europe, the United Kingdom and Asia.

Next week’s auction, on 6 May, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 6500 bales and 7200 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-

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