Mixed market for NZ wool with 72% of total offering

New Zealand Wool Services International Limited reports that the combined North and South Island Wool auction comprising 18,700 bales saw a mixed market with 72 percent clearance. The weighted indicator for the main trading currencies increased 0.94 percent compared to the last sale on 12th January contributing to a generally softer market.

The stronger NZ dollar combined with current market conditions saw targeted purchasing and variation in levels between selling centres, however, the overall market was generally easier. Mid Micron fleece saw the finer types ease by 3 to 5 percent with the coarser end firming slightly. Fine Crossbred Fleece in both Islands were 1 to 3 percent easier.

Fine Crossbred Shears were 1 to 2 percent cheaper in the South Island and 1 to 4 percent dearer in the North Island apart from the poor styles which were 2.5 percent softer. Coarse Crossbred Fleece were between 2 and 6 percent weaker apart from the Good Style in the North which were up to 2 percent dearer.

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Cape Wools Merino indicator at record highs

The first sale of the New Year opened on a positive note when wool prices rose sharply and the Cape Wools Merino indicator gained 7.1% to close the day at a fresh record of R105,15/kg (clean). This is up 49% on the corresponding sale last season and 1% higher than the previous seasonal high.

This is the highest level ever for the South African indicator.

There was keen competition from the various sectors of the trade for quality fleeces and the prices of most of these types rose to well above the R100/kg mark. In the 22-micron category gains of up to 10% were posted.

The price increases were in line with Australia, where the market posted gains just before the Christmas recess and continued to improve at this week’s sales.

The rand was 1.3% weaker against the US dollar compared with the previous sales’ average rate, trading at R8,06, but at R10,28 it was 3.8% stronger against the euro.

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