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Dollar Impacts on Wool Values
Dollar Impacts on Wool Values
New Zealand Wool Services International Ltds, Marketing Executive, Mr Paul Steel reports that the 7,500 bales of North Island wools on offer this week received mixed support with the stronger NZ dollar weakening the fine crossbred sector, but being overridden by limited supply in the coarse wool area with most types firm to 3 percent dearer.
There was a high clearance rate with 97 percent selling. The weighted indicator for the main trading currency’s strengthened by 2.38 percent compared to the last South Island sale on 12th September.
Mr Steel advises that the fine crossbred full fleece were 1 to 2 percent cheaper with long shear types 1 to 3 percent easier and short types up to 5 percent down.
Coarse Crossbred full fleece were firm to 2 percent dearer, long shears firm with shorter shears 1 to 3 percent stronger.
Limited competition with Australasia, Middle East and China principals supported by United Kingdom and India.
Next sale on 26th September comprises approximately 10,350 bales, which is 29 percent less than the anticipated roster.
ENDS
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