Prices continue to gain at wool sales

Prices continue to gain at wool sales

New Zealand Wool Services International Ltd reports that this week’s wool sales saw a stronger market, with the rise in prices reflecting recent increased demand for prompt shipment.

In the combined auction of North and South Island wool, held in Napier and Christchurch, 93.5 per cent of the 14,000 bales on offer sold.

Since the previous offering on 12 August the New Zealand dollar has remained unchanged against a weighted indicator of the main international wool trading currencies.

According to New Zealand Wool Services International, today’s prices for mid micron fleece were up on last week by between one and two per cent, with fine crossbred fleece rising between 1.5 and three per cent. Fine crossbred shears attracted particular interest, lifting between two and eight per cent.

Coarse fleece was one to 3.5 per cent dearer, while second shears rose between one and four per cent.

All oddments were generally firm, with the better styles strengthening by up to three per cent.

Buyers from Australasia, the Middle East, China and India dominated strong competition at the sales. Interests from Western Europe and the United Kingdom also demonstrated support.

Next week’s auction, on 26 August, will be in Christchurch, offering approximately 1350 bales from the North Island and 6200 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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