Wool sale affected by volume and shipping

New Zealand Wool Services International Ltd reports that prices eased for most types at today's wool sales reports Scoop. In the combined auction of North and South Island wool in Napier and Christchurch, 81 per cent of the wool on offer sold. However, at 28,000 bales, this offering was 28 per cent above the original rostered quantity, which had an impact on prices. Compared to the previous sale, on 18 February, the New Zealand dollar has eased in value against a weighted indicator of the main international wool trading currencies, but the increased volumes coming forward neutralised the currency effect. A shortage of shipping capacity, caused by freighting providers slashing their services in response to the global recession, means wool exporters are unable to secure sufficient space, which in turn restricts their ability to purchase wool on the local market. According to New Zealand Wool Services International, a small offering of finer crossbred fleece resisted this trend and stayed generally firm to six per cent dearer, with the very fine types benefiting the most. For detailed sale data  look here<<<<< Coarse carpet type full fleece was firm to three per cent cheaper, as were the shorter shears, with the better styles holding their value the best. First lambs wool types were firm to two per cent easier. All oddments were also firm to two per cent cheaper, with better styles receiving more attention. Main interest today was from Australasian carpet mills, India and China with buyers from the Middle East, Western Europe and the United Kingdom in support.