Wool Market Corrects

Wool Market Corrects

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the relatively inflated wool values corrected today as clients stand out of the market due to lack of orders at the recent price levels.

The currency indicator eased 1.8 percent compared to the last sale on 21st November, having practically no impact on the demand driven market drop.
Of the 8,000 bales of North Island wool on offer this week 80 percent sold.
Mr Dawson advises that Fine Crossbred Fleece and Shears came down between 7 and 9 percent.

Coarse Carpet Fleece and Shears were 5 to 9 percent weaker except the very short types which remained firm.

Long Oddments were down 6 to 9 percent with short types 1 percent easier.
Limited competition with tentative demand from all markets.

Next sale on 5th December comprises approximately 5,500 bales from the North Island and 5,100 bales from the South Island.

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