Dollar And Supply Boosts Wool Prices

Dollar And Supply Boosts Wool Prices

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the weaker New Zealand dollar to the US dollar and poor weather which has affected supply long term, combined to push local prices as exporters struggle to meet shipment commitments.

The 21,834 bales on offer from both Islands saw a 97 percent clearance with all types well supported compared to the last sale on 13th June.

The weighted indicator for the main trading currencies dropped 1.36 percent since the last sale.

Mr Steel advises that a limited offering of Mid Micron Fleece was unchanged since the last sale.

Fine Crossbred Fleece and Shears lifted 3 to 7 percent. Coarse Crossbred Fleece and Shears increased 3 to 6 percent.

Longer First Lambs were 4 to 6 percent dearer. Shorter First Lambs were firm to 4 percent firmer.

Long Oddments increased 4 to 8 percent. Short Oddments ranged from 2.5 percent to 10 percent dearer.

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

Next sale on 11th July comprises approximately 7,900 bales from the North Island.

ENDS

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