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Related Keywords: New Zealand wool, sheep population in new Zealand, wool importers in china, wool markets, wool prices

Wool prices in New Zealand held firm at auction this week although buyers from China were absent due to the Lunar New Year holidays. China is country's largest export market. 35-micron wool price, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's production, rose to NZ$5.81 a kg at combined North and South Island wool auctions, from NZ$5.74 a kg last week. This also implies a 14% increase over the year. About 83% of the 12,024 bales of wool on offer were sold.

The Australian wool markets saw prices lifted over both sale days this week, more than recovering the previous week’s losses. The EMI was quoted up Aus cents 7 to close the week at Aus$12.42 a kg. A weaker Aus$, saw the EMI fall in US$ terms by US cents 20 to close at US$9.80.

In Melbourne, sales saw firmer levels on opening, with good buyer focus on the 19 through to 20 micron categories. Crossbreds continued their rally with gains across the 28 to 32 micron wools, while the 26 micron categories sold higher. Oddments continued to enjoy solid demand, pushing prices higher.

Related Keywords: crossbred wool, wool micron, wool prices

Related Keywords: South African wool market, wool prices

Cape Wools’ Merino indicator gained 1.6 percent to close at R120.18/kg (clean), surpassing all previous records. This was a 17.9 percent increase on the opening sale and was up 8.8 percent on the corresponding sale last year, said Company spokeswoman Lizella Delport

Good demand and a weak currency pushed South African wool prices to a fresh high, Cape Wools said on Wednesday.

Related Keywords: wool prices

At the Zealand wool market, this week’s combined offering of 16,800 bales witnessed a firm to slightly cheaper market despite an easier New Zealand dollar. The clearance rate of 78 percent also reflects the higher volumes of average style wools coming onto the market and growers hoping of higher offering prices, lifting the volume of passed in wools, according to New Zealand Wool Services International Limited’s General Manager, Mr John Dawson.

The weighted indicator for the main trading currencies came down 1.16 percent compared to the last sale on 23rd January.

Related Keywords: wool, wool prices

The first wool sale of the year last week in Napier saw a large offering of wool where prices improved from levels seen at Christmas. There were 15,000 bales sold and that was a good sign that there's plenty of demand out there. At the moment, it is a bit of a level and looking forward to see further gain in wool prices, Elders Primary Wool national wool manager Simon Averill said.

Related Keywords: British wool, British wool marketing board, wool prices

An increasing level of confidence in the economic outlook across both Europe and the rest of the world is having a positive impact on wool prices with the opening sales of the current selling season showing the improvement in prices was being sustained.

With the strong clearance at British Wool Marketing Board auctions going on, this increased demand can be maintained through the remainder of the 2013/14 selling season.