Wool prices improve for better styled types - 19 February 2009

NZ Wool Services International Ltd reports that prices at today’s wool auctions generally improved, particularly for better-styled wools.

Since the previous sale, on 12 February, the New Zealand dollar weakened around 2.5 per cent against the main wool trading currencies, which helped contribute to a firmer market. 

Approximately 15,800 bales were offered at today’s combined North and South Island auction in Napier and Christchurch.

According to NZ Wool Services International, better-coloured well-grown fleece made good gains, increasing by as much as 2.5 per cent. Poorer styled fleece types were generally unchanged.

Fine and coarse early shorn and second shears made gains of up to two per cent.

First lambs’ wool 28 microns and finer generally increased in price by around 2.5 per cent. Prices for coarser types were unchanged, while oddments remained firm overall. 

Demand at today’s sales came mainly from Australasian carpet mills, India, Western Europe and the Middle East, with support from China.

Next week’s auction, on 26 February, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 6,100 and 8,600 bales respectively.  

New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at http://www.nzwsi.co.nz. The full report is available by negotiation with the company.