NEW ZEALAND MARKET REPORT

Summary

Market continues to strengthen.

Comment

North Island only offering this week with 10,500 bales available.  The selection consisted of 30% crossbred fleece, mainly average style 3/5″, 4/6″, 25% crossbred second shears average/good style bulk 3″, 30% lambs mainly good style 2/3″ and 15% associated oddments.  The market continued its strong upward trend with good demand from China/Australasian carpet mills.  Lambs look cheap for the micron with Chinese and European buyers active.  Good support from the Indian Sub Continent.  A good clearance of wool.

Fleece

Better style firm.

Poorer style 7.5% dearer.

Shears

Better style sellers favour.

Poorer style 10% dearer.

Lambs

Lambs 10% dearer.

Oddments

Combing oddments sellers favour.

Clothing oddments 8% dearer.

Passings

1.5% Passed In.

Next Auction

South Island only offering 8,700 bales on 11th March.