Wool Prices Lower Locally

Wool Prices Lower Locally

New Zealand Wool Services International Limited’s C.E.O, Mr John Dawson reports that the North Island offering of 8,600 bales saw an 86 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 1.98 percent compared to the last sale on 23rd March and 2.37 percent stronger against the US dollar.

Compared to the last North Island sale on 17th March where similar wools were on offer, Mr Dawson reports that Good Colour Fine Crossbred Fleece were up to 2 percent easier with porter styles 4 to 5.5 percent cheaper.

Good Colour Crossbred Fleece were firm to 1.5 percent easier with poor styles 3.5 to 4.5 percent cheaper.

Good to average style shears were firm to 3.5 percent cheaper with poor styles generally 4.5 percent weaker.

Fine First Lambs Fleece were 3.5 to 6.5 percent cheaper with coarser types 1 to 4 percent cheaper.

Long Oddments were down 5 percent with short oddments ranging 3.5 to 9 percent lower.

The less stylish wools on offer this week compared to last weeks’ South Island sale compounded some of the price reductions and any poorly prepared or lots with high vegetable matter attracted significant discounts.

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

Next sale on 7th April comprises approximately 8,900 bales from the South Island.

ENDS

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