A generally stronger market met yesterday's South Island wool auction, although many growers continue to set higher reserve levels, NZ Wool Services International reports.Since the previous sale last week, the New Zealand dollar had declined by 0.65 perce
A generally stronger market met yesterday's South Island wool auction, although many growers continue to set higher reserve levels, NZ Wool Services International reports.
Since the previous sale last week, the New Zealand dollar had declined by 0.65 percent against a weighted indicator of the main international wool trading currencies, a shift that under-pinned the market's firmer tone.
Included in the sale was a small quantity of North Island wool, on which prices remained steady.
Of today's offering, comprising about 6600 bales, 74 percent sold.
NZ Wool Services International said a nominal offering of mid micron fleece was well sought after, appreciating between 2 and 5 percent.
A limited offering of fine crossbred wools generally held firm.
Good colour coarse fleece and shears were firm to 1.5 percent dearer, with poorer styles slightly cheaper.
First lambs' fleece was generally firm to 3 percent dearer, although the coarser, shorter types eased slightly.
Oddments ranged from firm to 2 percent stronger.
Buyers from Australasian carpet mills, China, India, and the Middle East dominated competition at the sale, with Western Europe and the United Kingdom in support.
Next Thursday's auction will be a combined sale of North and South Island wool, in Napier and Christchurch, offering about 4500 bales and 7500 bales respectively.
