Little Change for Wool

Little Change for Wool

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the North Island auction this week remained fairly firm except for the higher volume of shorter shears which eased compared to last week.

The weighted indicator for the main trading currencies eased slightly by 0.4 percent compared to the last sale on 7th May having minimal impact.

Of the 5,500 bales on offer, 98 percent sold.

Mr Steel advises that continued requirement for China saw the Fine Crossbred Shears range from firm to 2.5 percent dearer. Coarse Crossbred Full Fleece were firm to 2 percent stronger.

Longer Coarse Shears were 1 to 2.5 percent firmer with shorter shears which made up over 50 percent of the offering, ranging from firm to 2 percent cheaper.

Long First Lambs fleece remained steady with shorter lamb’s wool 1.5 to 2 percent easier.

Good colour short oddments were 1 percent cheaper with poor styles firm to 5 percent lower.

China dominating, supported by Australasia, India, Western Europe and the Middle East.

Next sale on 21st May in the South Island is approximately 10,000 bales which is 4,000 bales above roster. The small volume of previous passed in wools held back by growers is coming forward for sale, attracted by recent improved local price levels.

ENDS

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