Wool Prices Soften

Wool Prices Soften

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the North Island offering of 7,615 bales saw a softening at today’s wool sale despite a weakening in the US dollar.

The main trading currencies were at lower levels from that of the previous week on the 11th April with the exception being that of the Australian dollar. The weighted indicator was down 1.63 percent with an 86 percent clearance rate.

The continued depreciation of the currencies has placed some uncertainty into the local market slowing demand and outweighing any advantage locally for the dollars movement.

Fine Crossbred Early Shorn and Second Shear 35 micron 3 to 5 inch and 3 to 4 inch were 2.5 to 5 percent cheaper. 2 to 4 and 2 to 3 inch were firm to 1.5 percent cheaper.

A limited offering of Coarse Crossbred Fleece saw prices ease off 1.5 to 2 percent. Coarse Crossbred Early Shorn and Second Shear 37 micron and coarser, 3 to 5 inch and 3 to 4 inch average style declined by 1.5 percent, 2 to 4 and 2 to 3 inch were firm to 1.5 percent cheaper.

First Lambs 28.5 and finer 2 to 3 inch finished at 3 percent cheaper. 29 and 30 micron 2 to 4 and 2 to 3 inch were firm to 1 percent dearer. 30.5 and 31 micron, 2 to 4 inch were 1 to 2 percent cheaper.

Crossbred Clothing Oddments remained mainly firm.

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

Next sale on Wednesday 24th April comprises approximately 15,500 bales from the South Island.

ENDS

© Scoop Media