Mixed results at wool sales

Mixed results at wool sales

New Zealand Wool Services International Ltd reports that prices at this week’s wool sales were variable, reflecting differing currency fluctuations since the previous sales.

In the combined auction of North and South Island wool in Napier and Christchurch, held on 30 June, 88 per cent of the 14,700 bales on offer sold.

Compared to last week’s offering on 24 June, the weighted indicator ranking the New Zealand dollar dropped against the main international wool trading currencies by 2.55 per cent. According to New Zealand Wool Services International, at the North Island sale, this effect helped increase the price of fleece and shears by one to two per cent and short oddments by 1.5 to 3.5 per cent, while prices for lambs’ wool was marginally softer.

Meanwhile for the South Island selection, where the previous offering was on 17 June, the weighted currency factor was 0.58 per cent in favour of the local market. However, due to the range of types on offer, there was greater price variation in the South Island, despite this.

Mid micron fleece and fine crossbred wools were 1.5 to 4.5 per cent easier with end of season lambs’ wool one to 2.5 per cent softer.

South Island wool types in the carpet sector retained their price strength better, with coarse fleece and shears increasing up to one per cent.

Buyers from Australasian carpet mills, the Middle East and the United Kingdom were to the fore among widespread interest at today’s sales, supported by India, China and Asia.

Next week’s auction, on 8 July, will be in Napier only, consisting of 7500 bales of North 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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