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Wool Market Defies Dollar

Wool Market Defies Dollar

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that despite a resurgent New Zealand dollar the South Island offering of 11,500 bales saw most types range from firm to 3 percent dearer. Even with the strength of the sale and an 86 percent clearance, some growers were still unprepared to accept current market levels with 13 percent of the offering being passed in.

The weighted indicator for the main trading currencies was 1.36 percent up on the last sale on 3rd April.

Mr Dawson advises that Fine Crossbred Fleece and Shears were between 1 and 3 percent firmer.

Coarse Full Fleece were firm to 2 percent dearer with Coarse Shears firm to 3 percent dearer.

Longer First Lambs eased slightly with the balance firm to 2 percent dearer.

Long Oddments were generally firm with short oddments up to 1 percent dearer.

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

Next sale on Wednesday 16th April comprises approximately 8,200 bales from the North Island.

© Scoop Media

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