Prices of 32 micron & poor style fleece wool remain firm
November 06, 2008 - New Zealand
The 8,700 bales on offer of the Napier wool Auction this week saw prices ease. The Strengthening NZ doller Compared to our main trading currencies resulted in the Wool Weighted currency indicator lifting two percent, which is a negative factor for local price levels.
The continuing world economic problems created additional downward pressure with most types softening by more than the currency influence.
Only the 32 micron and poor style fleece sector remained firm as a result of limited availability. The rest of the fine crossbreds and Hogget wools softened between 2 and 3.5 percent with the short end reducing by up to 5 percent.
Coarse Crossbred Fleece and Shears dropped by 3 to 4 percent except the small offering of poorer styles, which only eased by 1.5 to 2.5 percent.
Crossbred oddments came back 3.5 to 5 percent with the shorter types affected the most.
Main interest came from Australasian Carpet Mills, China and India with limited activity from Western Europe and the Middle East.
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