Strong wool eyes China
China looks set to play a key role in helping the New Zealand wool sector shift away from trading as a commodity supplier.
The weighted indicator for the main trading currencies strengthened slightly by 0.39% compared to the last sale on February 23, having minimal impact.
Ching says a rise in customer activity in recent days has seen a previous flat market steady with some sectors showing strong activity, although there are wool types that are still struggling for support.
Fine crossbred fleece and shears were firm to 2.5% stronger with steady Chinese interest. Coarse full Fleece was well supported with levels remaining firm to 3% stronger. Longer shears, which were pressured last sale, eased back by up to 2%. Shorter shears were firm to 3% dearer. Fine Lambs fleece eased slightly with the longer coarser types firm to 3% stronger.
All oddments were 1.5 to 4% dearer. Well spread competition with China, Western Europe and India principals supported by Australasia, Middle East and United Kingdom.
The next sale on March 8 comprises about 17,700 bales from the North Island and 8600 bales from the South Island.
