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Wool Eases
Wool Eases
New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that a resurgent New Zealand dollar and recent subdued trading conditions saw across the board price drops.
The weighted indicator for the main trading currencies moved up 2.07 percent this week, having a negative effect on local values.
Of the 5,900 bales of North Island wool on offer, 83 percent sold.
Mr Steel advises that compared to the last similar North Island offering on 30th October, Fine Crossbred full fleece eased 4 percent with shears easing between 1 and 4 percent.
Coarse Full Fleece also weakened 4 percent with 3/4 and 3/5 inch shears down 3 percent. Shorter types were up to 1 percent cheaper.
Long Oddments were 2 percent down with short types 4 to 8 percent weaker.
When compared where possible to the last sale in the South Island on 6th November, most local prices were below the above levels.
China was most active with limited support from elsewhere.
Next sale on 29th November comprises approximately 7,100 bales from the South Island offering a high percentage of finer mid micron wools.
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