Friday, 23 March 2012 09:21

Wool price holds up

Written by Pamela Tipa

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The market held up fairly well for the last of the larger offerings of this season with 22,700 bales on offer and an 84% clearance, New Zealand Wool Services International Ltd's general manager, John Dawson reports.

The weighted indicator for the main trading currencies compared to the last sale on March 15 was practically unchanged, strengthening only 0.06%.

The price levels between the North and South Island selling centres reflects the larger volumes coming forward in the north and although prices lifted considerably compared to their last sale on March 8, the North Island prices are still generally below their counterparts in the south.

Dawson advises that Fine Crossbred Fleece and Shears were firm to 2% stronger. Good Colour Crossbred Fleece eased slightly with other styles firm to 3% dearer. Longer Coarse Shears ranged from firm to 4% stronger, with shorter shears in the South easing 1 to 2% and the north offering firm to 4% dearer. South Island Lambs were 1 to 2% easier with the North Island selection 2 to 5% stronger.

Oddments ranged from firm to 3.5% dearer with the North Island levels lifting the most.

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

Next sale on March 29 comprises about 10,900 bales of South Island wools only.

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