Mixed market for NZ wool with 72% of total offering

19 Jan '12

2 min read

New Zealand Wool Services International Limited reports that the combined North and South Island Wool auction comprising 18,700 bales saw a mixed market with 72 percent clearance. The weighted indicator for the main trading currencies increased 0.94 percent compared to the last sale on 12th January contributing to a generally softer market.

The stronger NZ dollar combined with current market conditions saw targeted purchasing and variation in levels between selling centres, however, the overall market was generally easier. Mid Micron fleece saw the finer types ease by 3 to 5 percent with the coarser end firming slightly. Fine Crossbred Fleece in both Islands were 1 to 3 percent easier.

Fine Crossbred Shears were 1 to 2 percent cheaper in the South Island and 1 to 4 percent dearer in the North Island apart from the poor styles which were 2.5 percent softer. Coarse Crossbred Fleece were between 2 and 6 percent weaker apart from the Good Style in the North which were up to 2 percent dearer.

Coarse Shears eased by 2 to 4 percent apart from the 2/4 and 2/3 inch wools in the North which strengthened 3 to 6 percent. First Lambs strengthened 2 to 3 percent. All Oddments were strongly contested after being neglected recently, increasing between 2 and 8 percent.

Wide spread competition with Australasia, China, Middle East and Europe principals, supported by India and United Kingdom.

New Zealand Wool Services International Limited