Wool Market Loses Ground

Wool Market Loses Ground

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that today’s market was down due to a combination of strained exporter cash flows slower demand and a slightly stronger New Zealand dollar. The Auckland port dispute further impacted on exporter cash flows with some deferred shipping due to lack of containers.

South Island price levels have now come more into line with their North Island counterparts.

The weighted indicator for the main trading currencies compared to the last sale on the 22nd March was marginally stronger by 0.5 percent.

Compared with last week’s South Island sale Crossbred Fleece was generally up to 5 percent cheaper, Early Shorn Second Shear 2.5 percent cheaper and Short Length Second Shear 2.5 to 5 percent cheaper. Lambs were up to 3 percent cheaper. Oddments were 2.5 to 5 percent cheaper. Compared with last week’s North Island sale prices were generally firm with the exception of Lambs which are still 1 percent above North Island values.

Next sale on the 4th April comprises approximately 12,000 bales of North Island wool.

ENDS

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