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Volitile NZ Dollar Weakens Wool

Volitile NZ Dollar Weakens Wool

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that a volatile New Zealand currency during the auctions and restricted interest from some markets saw prices ease for the combined North and South Island auctions.

Of the 22,600 bales on offer 80 percent sold with the balance retained in grower ownership.

The weighted indicator ended practically unchanged compared to the last sale on 13th March lifting 0.29 percent.

There were considerable variations between similar types in each centre, with the North Island market cheaper overall than South Island levels.

Mr Steel advises that;

Fine Crossbred Fleece and Shears were firm to 4 percent easier.

Coarse Fleece and Shears were firm to 2 percent cheaper in the South and 3 to 4 percent easier in the North.

First Lambs were 1 to 3.5 percent cheaper with the North Island wools coming down the most.

Coarse Oddments ranged from firm to 4 percent cheaper.

Limited competition with Australasia, China and United Kingdom principals supported by India, Western Europe and the Middle East.

Next sale on 27th March comprises approximately 9,600 bales from the South Island of which previously unsold grower owned wools makes up 25 percent of the selection.

© Scoop Media

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