Resurgent New Zealand Dollar Lowers Wool Prices

Resurgent New Zealand Dollar Lowers Wool Prices

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel advises that the rapid rise in the New Zealand dollar just prior to the auction saw generally corresponding lowering of local wool prices in many areas apart from fine crossbred fleece and some targeted coarser types.

Of the 18,200 bales on offer 88.4 percent sold.

The weighted indicator for the main trading currencies was up 1.78 percent compared to the last sale on 12th March.

Mr Steel advises that Fine Crossbred Fleece and Shears ranged from firm to 5 percent dearer.

Coarse Crossbred Full Fleece were generally firm. Coarse Shears were firm to 2 percent cheaper.

First Lambs were firm to 1.5 percent cheaper overall.

Long Oddments were 2 to 7 percent easier with short types firm to 3 percent down.

Continuing strong interest from China and Australasia with support from the Middle East, Western Europe, India and the United Kingdom.

Next sale on 26th March comprises approximately 9,500 bales from the South Island.

© Scoop Media