Dollar Bounces Wool Prices

Dollar Bounces Wool Prices

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the weaker New Zealand dollar and seasonal slowing down of wool supply, helped bolster prices for the 9,500 bales on offer this week.

The weighted indicator for the main trading currencies dropped 2.83 percent compared to the last sale on 3rd May with 80.5 percent of the selection sold.

Mr Steel reports that a nominal offering of Mid Micron Fleece were generally firm with Fine Crossbred Fleece and Shears ranging from firm to 4.5 percent stronger.

Coarse Crossbred Fleece also improved more than the currency factor, lifting between 4 and 5.5 percent. Coarse Shears were between 1.5 and 5.5 percent dearer with the types in shorter supply improving the most.

First Lambs of all styles and lengths received better attention, increasing 3 to 6 percent with the finer microns strongly contested.

A small selection of long oddments were up to 5 percent dearer with short types 3 to 5 percent stronger.

Good competition with China and Western Europe continuing to dominate, supported by the United Kingdom, Middle East, India and Australasia.

Next sale on 17th May comprises approximately 7,250 bales of North Island Wool.

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