Editorial: Wool's Back in the Black
OPINION: Confidence in the wool sector is rebounding as prices hit levels not seen in more than 15 years.
An easier New Zealand dollar and slightly improved business activity caused the lift, New Zealand Wool Services International Ltd's general manager, John Dawson reports.
The combined North and South Island offering comprised 13,900 bales. The weighted indicator for the main trading currencies was down 0.85%.
Dawson advises that mid micron fleece, 25 to 30.5 micron, were 1.5 to 2.5% stronger. Fine crossbred fleece, 33 to 35 micron, were 3 to 4% stronger. Longer fine crossbred shears increased 4 to 6% with the shorter types, 2 to 4% dearer.
Coarse crossbred fleece and shears were firm to 3% dearer. A small selection of first lambs were nominally 1 to 2% firmer.
Coarse long oddments remained firm, however the shorter types were strongly contested with 2 to 4 inch wools increasing 6 to 10% and 2 to 3 inch up 2 to 4%.
Widespread interest with China, India and the Middle East dominating, supported by United Kingdom, Western Europe and Australasia.
The rostered sale on August 23 has been cancelled due to poor weather stopping shearing. The next sale is on August 30 comprising about 8400 bales from the South Island.
