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Easing NZ Dollar Helps Lift Local Wool Market

Easing NZ Dollar Helps Lift Local Wool Market

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the first sale after the Christmas break of approximately 13,700 bales from the North Island saw a generally firmer market in local terms with 98.5 percent selling.

The weighted indicator for the main trading currencies eased 1.3 percent compared to the last sale on 17th December, however compared to the US dollar the New Zealand was back 1.9 percent. This weakening NZ dollar underpinned the market for most types.

Mr Dawson advises that an increase in enquiry form Asian markets and urgent shipment requirements pressured the finer Crossbred Fleece. Full Fleece of 33 microns lifted up to 6 percent with 34 to 35 microns 1 to 2 percent firmer.

Fine Crossbred Shears were firm to 2.5 percent dearer.

Good style Coarse Fleece were 1 to 2 percent firmer, average style 1.5 to 3.5 percent dearer and poor style 2 to 4 percent stronger.

Coarse Second Shears were firm to 3 percent dearer.

Fine First Lambs Fleece were up to 1 percent firmer with coarser types 1 to 2 percent easier.

Coarse long oddments eased 2 to 4 percent with good colour short oddments lifting 3 to 4.5 percent and poor styles 1 percent cheaper.

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

Next sale on 14th January comprises approximately 9,200 bales from the North Island and 6,800 bales from the South Island.

ENDS

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