Euro Issues Create Mixed Wool Market

John Dawson, general manager for New Zealand Wool Services International Ltd's, reports that the ongoing eurozone weakness continues to unsettle the wool market with mixed fortunes throughout the offering. The weighted indicator for the main trading currencies compared to the last sale on Nov. 10 was 1.55 percent weaker.

Dawson advises that Merino fleece finer than 18.5 micron and between 23 and 24 micron resisted the trend, increasing 2 percent to 5 percent. The 19 to 22.5 micron sector, however, was 2 percent to 4 percent cheaper. Mid-micron fleece 24.5 to 29.5 micron also attracted strong interest, lifting between 1 percent and 6 percent, with the fine end benefiting the most.

Well-spread competition continued with China and Western Europe dominating the fine wool sector. China continues to strongly influence the fine crossbreds and hoggets with Australia and the United Kingdom dominating the coarse carpet wools, supported by China and the Middle East.

Reprinted in part from scoop.co.nz