Dollar Drop Lifts Wool Prices

Dollar Drop Lifts Wool Prices

New Zealand Wool Services International Limited’s Marketing Executive, Malcolm Ching reports that the combined North and South Island Wool auction comprising 26,000 bales saw a firm to dearer market with a 90.3 percentage clearance.

The weighted indicator for the main trading currencies compared to the last sale on 1st March dropped by 1.86 percent, under pinning prices for one of the season’s largest single day offerings.

Mr Ching advises Fine Crossbred Fleece and Shears ranged from firm to 5 percent dearer, supported by steady Chinese interest.

Coarse Crossbred Fleece was 1 to 3 percent stronger with Coarse Shears firm to 3 percent dearer. First Lambs were firm to 2 percent dearer, except some of the shorter types in the South Island which eased up to 1 percent. Oddments ranged from firm to 4 percent stronger.

Good competition with China, Australasia and Middle East principal buyers, supported by Western Europe, United Kingdom and India.

Next sale on 15th March comprises approximately 7,300 bales from the South Island.

ENDS

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