Stronger Currency Effects Wool Market

Stronger Currency Effects Wool Market

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson advises that comparative market reporting based on the radically disparate volumes and types on offer between alternate weeks offerings of North and South Island wools is becoming increasingly difficult with wide price ranges between the selling centres.

Compared to the last sale on 14th June the weighted indicator for the main trading currencies is up 2.29 percent accounting for most of the softer market week on week with 65 percent of the offering selling.

Mr Dawson reports that this week’s South Island offering compared to last week’s North Island sale was generally firm to 4 percent easier. Longer Fine Crossbred Shears were firm to 3 percent softer with the shorter types resisting the trends and firming up to 4 percent.

Coarse Crossbred Fleece was also firm to 4 percent down. Coarse Shears 2/4 and longer ranged from 2 to 5 percent easier with the shorter types 1.5 percent dearer.

First Lambs were 2 to 5 percent down. Coarse Oddments were 3 to 4 percent cheaper.

When compared to the previous South Island offering on 7th June, levels range from firm to 6 percent cheaper, however the price wool is trading at internationally is relative to the North Island market movement and currency impact.

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

Next sale on 28th June comprises approximately 13,600 bales from the North Island and 6,200 bales from the South Island.

ENDS

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