Wool Market Buoyant

Wool Market Buoyant

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that today’s sale of 6,617 bales saw increases of 1 to 2 percent overall. A good result, considering offering of 52 percent Coarse Crossbred Early Shorn and Second Shear types.

There was good demand for shorter Second Shear types 2 to 3 inch 32 to 35 micron as buyers bid to cover Chinese orders.

The trade weighted indicator was little changed from the last wool sale on 16th July.

Compared to the South Island sale on 16th July Fine Crossbred Early Shorn and Second Shear types 3/5 and 3/4 inch were 1 percent dearer.

A limited offering of Coarse Crossbred Fleece wools were up 1 percent. Coarse Crossbred Early Shorn and Second Shear 37 to 39 micron 3/5 to 2/4 inch were 1 percent dearer, while 2/3 inch were firm.

A nominal offering of Crossbred Combing Oddments were in Sellers Favour, while good colour Clothing Oddments increased by 2 percent with poorer colour remaining firm.

Competition was widespread with China dominating.

Next sale on 30th July comprises approximately 8,000 bales from the South Island.

ENDS

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