Euro Issues Create Mixed Wool Market

Euro Issues Create Mixed Wool Market

Mr John Dawson, New Zealand Wool Services International Ltd’s General Manager reports that the on-going Euro zone weakness continues to unsettle the wool market with mixed fortunes throughout the offering.

The weighted indicator for the main trading currencies compared to the last sale on 10th November was 1.55 percent weaker. The generally softer market resulted in 82.2 percent of the offering selling with mainly Merino Fleece being passed in.

Mr Dawson advises that Merino Fleece finer than 18.5 micron and between 23 and 24 micron resisted the trend, increasing by 2 to 5 percent. The 19 to 22.5 micron sector, however, was 2 to 4 percent cheaper. Mid Micron Fleece 24.5 to 29.5 micron also attracted strong interest, lifting between 1 and 6 percent, with the fine end benefiting the most. 30 to 31.5 micron eased by 2 percent. Long Fine Crossbred Fleece was up by 1 percent with the shear types 1 to 2.5 percent weaker. Good Colour Coarse Fleece remained steady with average style up to 1 percent cheaper and the poor styles 3 to 4 percent easier. Coarse Shears 3/5 inch as well as 2/4 and 2/3 inch were buyers favour with 3/4 inch wools lifting by 1 percent. Combing Oddments and good colour 2/4 inch oddments eased 2 to 4 percent with the shorter types firm to 3 percent dearer.

Well spread competition with China and Western Europe dominating the fine wool sector. China continues to strongly influence the Fine Crossbreds and hoggets’ with Australasia and the United Kingdom dominating the coarse carpet wools, supported by China and the Middle East.

Next sale on 24th November comprises approximately 7,400 bales from the North Island, down 27 percent on anticipated quantities.

ENDS

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