Friday, 18 May 2012 10:57

Wool holds steady

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The 7,900 bales of North Island wool on offer this week saw a 68.7% clearance with a generally firm to dearer trend, New Zealand Wool Services International Ltd's general manager, John Dawson reports.

The weighted indicator for the main trading currencies eased 1.93% compared to the last sale on May 10.

Dawson advises a nominal offering of fine crossbred fleece was well supported, lifting by 3 to 3.5%. Coarse second shears remained firm. Lambs Fleece 2/4 inches and longer were firm to 1% stronger with the shorter types firm to 1.5% easier.

All oddments generally remained firm however direct comparison between the North and South Island types this season is difficult to achieve.

Limited competition with China dominating, supported by Western Europe, Middle East and India.

Next sale on May 24 comprises a reduced quantity of approximately 7,280 bales from the South Island.

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