Firmer Dollar and Higher Volumes Cap Wool Prices

Firmer Dollar and Higher Volumes Cap Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island Wool auction this week comprising approximately 22,600 bales was affected by the firmer dollar easing some sector’s, as well as a higher weekly supply. Some areas still came under solid demand and overrode these factors managing to remain firm and in some cases lift slightly, particularly the finer and better styled wools.

There was a 90 percent clearance. The weighted indicator for the main trading currency was up 0.37 percent compared to the last sale on 14th March, with the US dollar continuing to strengthen as the sale progressed.

Mr Dawson advises that the Fine Crossbred Fleece and Shears 32 to 35 micron were firm to 2 percent dearer.

Good colour Coarse Crossbred Fleece remained firm with average and poorer styles generally easing slightly. Coarse Second Shears ranged from firm to 3 percent softer.

Longer First Lambs were 2 to 3 percent cheaper with shorter types firm to 3 percent stronger. Oddments were generally firm overall.

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

Next sale is on WEDNESDAY 27th March due to the Easter break, comprising approximately 9,500 bales from the South Island.

ENDS

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