Wednesday, 04 February 2015 14:59

Wool demand outstrips supply

Written by Rural News Group

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Strong buying interest for quick shipment underpinned this week's wool market for the 13,789 bales on offer from both Islands, New Zealand Wool Services International Ltd's general manager, Mr John Dawson reports.

Currency played a minor role despite the New Zealand dollar's volatility with the indicator for the main trading currencies practically unchanged at 0.6898 compared to the last sale on January 28.

Of the offering 90.8% sold with most unsold wools coming from the mid micron selection.

Dawson says there were some inter Island variations in price direction in some sectors, with an overall firm to dearer trend.

Fine crossbred fleece were generally firm to 3% dearer with shears firm to 4% stronger.

Coarse crossbred full fleece were firm to 3% dearer except poorer styles in the North which were up to 2% cheaper.

Coarse shears were firm to slightly dearer except short poor styles in the North which were up to 2% easier.

Lambs fleece ranged from 1 to 5% dearer with wide spread competition. Long oddments were firm to slightly easier with short types ranging from 2.5% softer to 2.5% dearer depending on selling centre, colour and micron.

Strong competition with China, India, Australasia and the Middle East principals, supported by Western Europe and the United Kingdom.

The next sale on February 12 comprises about 6,900 bales from the North Island and 5,700 bales from the South.

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