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High Dollar Affects Wool Prices

High Dollar Affects Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island last sale of the 2013/14 season offering 23,600 bales, saw the market ease 2 to 4 percent with the strong New Zealand dollar accounting for a significant amount of the shift.

The weighted indicator for the main trading currencies was up 1.5 percent compared to the last sale on 12th June.

Some growers withheld their wool from selling due to the lower market with 78.2 percent sold.

Mr Dawson advises that;

Fine Crossbred Fleece and Shears were 1 to 4 percent cheaper.

Coarse Crossbred Fleece and Shears were 1.5 to 4 percent easier.

First Lambs Fleece were firm to 3 percent dearer in the South and up to 3.5 percent cheaper in the North.

South Island combing oddments resisted the trend and strengthened 5 to 10 percent with short oddments 1 to 4 percent easier.

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

Next sale on 10th July comprises approximately 7,000 bales from the North Island.

ends

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