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Weaker Dollar Moves Wool Up

Weaker Dollar Moves Wool Up

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the slightly weaker New Zealand dollar compared to last weeks’ sale helped lift local prices, aided by strong support for a more stylish South Island selection suitable for greasy wool orders.

Of the 9,400 bales on offer, 91.6 percent sold.

The weighted currency indicator was down 1.12 percent week on week.

Compared to the last time comparable wools were sold on 23rd March in the South Island Fine Crossbred Full Fleece and Shears were firm to 1.7 percent dearer.

Coarse Crossbred Fleece were firm to 1 percent dearer with some of the inferior types attracting stronger interest.

Coarse shears 3 to 5 inch to 2 to 4 inch were firm to 1 percent dearer. Shorter wools were 2 percent cheaper.

Fine First Lambs were firm to 2 percent cheaper with 30 micron and coarser lambs firm to 1.5 percent dearer.

Compared to last weeks’ North Island offering prices for main stream types were above those levels, however significant discounts still apply for faulted lines.

Good competition from China for Greasy Wool orders with Australasia principal for Scoured Wool deliveries, supported by Middle East, Western Europe, United Kingdom and India.

Next sale on 14th April comprises approximately 5,600 bales from the North Island.

ENDS

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