Friday, 16 November 2012 08:42

Wool market steady

Written by Pamela Tipa

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The 9500 bales on offer at this week's North Island sale saw a 93% clearance with a generally firm market, says New Zealand Wool Services International Ltd's general manager John Dawson.

The weighted indicator for the main trading currencies eased 0.94% compared to the last sale on November 8, helping local prices.

Dawson says the fine crossbred fleece was slightly buyers' favour with longer shears up to 2% easier and shorter types firm.

Coarse full length crossbred fleece and longer shears remained firm with 2 to 4 inch wools firm to 1.5% dearer and 2 to 3 inch up to 2.5% stronger. Crossbred oddments generally remained firm.

There was limited competition with China dominating supported by India, Middle East, Western Europe and the United Kingdom.
The next sale on November 22 comprises about 10,255 bales from the South Island.

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