New Zealand Dollar Lifts Wool Prices

New Zealand Dollar Lifts Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the weaker New Zealand dollar particularly against the US dollar saw all categories dearer this week.

The weighted indicator for the main trading currencies was down 2.45 percent compared to the last sale on 5th March with many wool types appreciating by a corresponding amount.

Of the 8,000 bales on offer, 90 percent sold.

Mr Dawson advises that Fine Crossbred Fleece were 4 percent dearer with the second shears 1 to 3 percent firmer.

Coarse Full Fleece were 1 to 4 percent stronger with poorer styles lifting the most. Coarse shears were 1 to 3 percent dearer.

Fine First Lambs lifted 1 percent with 28.5 micron and coarser increasing 3 to 4 percent, pushed by ongoing strong demand.

Long Oddments increased 2 percent with Short Oddments firm to 2 percent dearer.

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

Next sale on 19th March comprises approximately 10,500 bales from the North Island and 6,700 bales from the South Island.

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