Mr John Dawson, General Manager for New Zealand Wool Services International Limited reports that the 7,174 bales of North Island wool on offer this week saw an 89.5 percent clearance with the fine end easing off last weeks’ relatively extreme level and the coarse types holding their ground.
When comparing type for type, overall price levels are still well above the last North Island wool auction. The weighted indicator for the main trading currencies was 0.14 percent higher than the previous week having minimal impact.
Mr Dawson advises that compared to the South Island sale on 25th October Fine Crossbred Fleece and longer shears eased 3 to 5 percent with the shorter types Sellers Favour. Coarse Crossbred Full Fleece were also sellers favour.
Long Coarse Shears remained firm with 2 to 4 inch wools Sellers Favour and shorter types 2.5 percent dearer. Type for type, oddments were generally firm.
Limited activity with China dominating, supported by India, Western Europe and the Middle East. Next sale on 8th November comprises approximately 10,400 bales from the South Island.