Friday, July 1, 2022

Wool demand remains strong

The 18,800 bales of wool on offer last week from both Islands saw an 88.4% clearance with mixed price levels, however overall the market was slightly easier, New Zealand Wool Services International marketing executive Paul Steel said.

The weighted indicator for the main trading currencies eased 0.42% with minimal impact on the market. Steel reported that continued interest from China for the finer end of the offering saw better buying interest with the very coarse end easing the most as seasonally high volumes start to become available.

Mid micron fleece generally remained firm, fine crossbred fleece tended in buyers’ favour and fine crossbred shears ranged from firm to 2% cheaper with very short types affected the most.

Coarse crossbred fleece was 1.5% cheaper with the shears between firm and 2.5% easier.

Long first lambs remained firm with shorter types up to 3% cheaper. Coarse combing oddments were firm to 2.5% softer. Clothing oddments 2 to 4 inches were firm to 3% cheaper with 2 to 3 inches 2 to 4% dearer.

Chinese interests dominated the market with support from Western Europe, Middle East, India, United Kingdom and Australasia.

The next sale on January 10 comprises approximately 16,000 bales from the North Island and 10,000 bales from the South Island.

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