New Zealand wool prices tone down

At the Zealand wool market, this week’s combined offering of 16,800 bales witnessed a firm to slightly cheaper market despite an easier New Zealand dollar. The clearance rate of 78 percent also reflects the higher volumes of average style wools coming onto the market and growers hoping of higher offering prices, lifting the volume of passed in wools, according to New Zealand Wool Services International Limited’s General Manager, Mr John Dawson.

The weighted indicator for the main trading currencies came down 1.16 percent compared to the last sale on 23rd January.

Mr Dawson advises that Fine Crossbred Full Fleece and Second Shears ranged from firm to 3 percent easier.

Coarse Crossbred Full Fleece were 1 to 2 percent cheaper, except the best style in the North Island which lifted by 1 percent. Coarse Shears were 1 to 3 percent cheaper.

First Lambs ranged from firm to 4 percent easier with North Island wools affected the most.

Long Oddments were 2 to 3 percent cheaper in the South and up to 1.5 percent dearer in the North. Short Oddments were 1 to 4 percent softer.
Next sale on 5th February comprises approximately 7,500 bales from the North Island and 6,800 bales from the South Island.

Limited competition with most interest from China, India and Australasia, supported by Middle East, Western Europe and the United Kingdom was observed