Friday, 10 August 2012 08:30

Wool market steadies

Written by Pamela Tipa

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The limited offering of 4200 bales from the South Island on offer this week saw a 58% clearance and a generally firmer market, New Zealand Wool Services International Ltd's general manager, John Dawson reports.

The weighted indicator for the main trading currencies increased by 0.42%.

Dawson advises a small selection of Mid Micron wools followed other market trends and eased between 4 to 6%.

Fine crossbred fleece and shears were firm to sellers favour.

Coarse crossbred fleece were firm to 1.5% dearer. Coarse early shorn were firm with longer shears firm to 1.5% stronger and shorter shears firm to 3% dearer.

First lambs and long crossbred oddments remained firm with short oddments generally in buyers' favour.

There was limited activity with many growers reluctant to sell at current levels. Main competition came from China, India and Western Europe, supported by Middle East and Australasia.

The next sale on August 16 comprises about 7500 bales from the North Island and 6300 bales from the South Island.

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