Wool market firm to dearer

Last updated 08:46 01/03/2014

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A steady flow of client buyer interest and limited volumes of desirable wool types has combined to steady the wool market after the recent downward pressure.

This week's auction of 7300 bales of South Island wool saw a firm to dearer market with an 86 per cent clearance rate.

New Zealand Wool Services International Limited's general manager John Dawson said the weighted indicator for the main trading currencies lifted slightly by 0.58 per cent, compared to the February 20 sale.

Fine crossbred full fleece remained firm and longer shears ranged from firm to 3.5 per cent dearer with shorter types also firm.

Good colour coarse crossbred full fleece held steady with poorer types recovering ground, lifting by 2 to 3.5 per cent.

Longer coarse crossbred shears were firm to 3.5 per cent stronger and shorter types were buyers' favour to firm. First lambs' fleece were firm to 1 per cent dearer. Coarse oddments were 3 to 4 per cent stronger, with short types 1 to 5 per cent dearer.

There was well spread interest on the buying bench with Australasia, Western Europe, India and United Kingdom dominating.

The next sale on March 6 will comprise about 11,700 bales from the North Island and 6900 bales from the South Island.

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- The Timaru Herald

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