Wool Market Strengthens

Wool Market Strengthens

NZ Wool Services CEO John Dawson reports 4600 bales on offer this week saw an 87 percent clearance with mostly positive results, with lambs wool increasing considerably.

The weighted currency indicator is down 0.34 percent having a small but positive impact.

More growers are continuing to hold back wool, further reducing volume which is restricting supply in some categories.

Mr Dawson advises compared to the last South Island selection on 16 February;

Fine crossbred fleece were 5-6 percent dearer with fine crossbred second shears 4 percent dearer

Coarse full fleece were firm to 4 percent dearer, with shears 3 to 7 percent dearer.

29.5mic lambs and finer increased by 9 percent, while 30mic and coarser were 5 to 13 percent dearer.

Oddments were 5 to 18 percent dearer with the combing oddments showing strong support.

Good competition with, China and Western Europe principals, supported by India and the United Kingdom.

Next sale on 2nd March comprises approximately 5000 bales from the South Island and 11000 from the North Island.

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