WOOL CONTINUES TO SLIDE

New Zealand Wool Services International Ltd’s Marketing Executive Mr Nathan Arthur reports that market conditions remain unchanged with the strong NZ dollar and Chinese inactivity, combined with higher seasonal wool flow, is undermining wool values.

The weighted currency indicator was increased 1.35 percent, having a negative impact as the NZ dollar continues to strengthen.

Mr Arthur advises that compared to the last sale on 1st June;

Fine shears were generally 1 to 2 percent cheaper.

Full length average and poor style coarse fleece remained firm

Coarse longer shears were firm to buyers favour with shorter shears 4 to 8 percent cheaper.

First lambs fleece were 2 to 3 percent cheaper.

Oddments were generally 2 to 4 percent cheaper.

Next sale on 15th June comprises approximately 8000 bales from the South Island.