NZWSI Market Report: Wool Prices Reflect NZ Dollar Gains

WOOL PRICES REFLECT NZ DOLLAR GAINS

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the North Island offering of 7,700 bales saw a 69 percent clearance with most types easing in local terms mainly due to a significantly stronger New Zealand dollar.

The weighted indicator for the main trading currencies was up 1.36 percent compared to the last sale on 18th May and 1.51 percent stronger against the US dollar.

Compared to the last North Island sale on 11 May where similar wools were on offer, Mr Dawson reports that the limited offering of good colour early shorn and second shear types were 5 percent cheaper.

Average coloured crossbred fleece was firm to 2 percent easier with poor styles remaining firm

Good to average style longer shears were firm with shorter shears easing 3 to 5 percent. Poorer styles generally showed increased support strengthening 2 to 5 percent

Fine First Lambs Fleece were firm with coarser types 4 to 5 percent dearer.

Crossbred oddments were generally firm to buyers favour

The less stylish wools on offer this week compared to last weeks’ South Island sale and a homogeneous supply of short second shear wool types compounded some of the price reductions.

Next sale on 1st June comprises approximately 7,900 bales from the South Island.

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