Dollar Pushes up Local Wool Prices

Dollar Pushes up Local Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the local market lifted significantly for the 10,400 bales on offer at the South Island sale this week. The weakening NZ dollar, particularly against the US dollar which was down 4.97 percent compared to the last sale on 9th May and the weighted currency indicator down 3.91 percent was the principal market influence. This was supported by recent strong purchasing interest and a seasonal limited wool supply.

Mr Dawson advises that a nominal offering of Mid Micron Fleece were firm to 3 percent dearer.

Fine Crossbred Fleece lifted up to 3.5 percent with the Second Shears 5 to 8 percent stronger.

Good Colour Coarse Crossbred Fleece lifted 6 percent with poorer styles 2.5 to 5.5 percent dearer.

Coarse Longer Second Shears were 4 to 6.5 percent firmer with shorter types 5 to 9 percent stronger.

First Lambs Fleece ranged from 3 to 7 percent dearer.

All Coarse Oddments were 9 to 10 percent stronger.

Strong competition from Western Europe, Australasia and the United Kingdom, supported by China, India and the Middle East.

Next sale on the 30th May comprises 11,300 bales from the North Island.

ENDS

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