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Dollar Drop Helps Push up Wool

Dollar Drop Helps Push up Wool

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the rapidly weakening New Zealand dollar against the US and GBP aided by recent active customer buying activity saw the local prices lift in all areas.

Of the 21,600 bales on offer, 93.7 percent sold with mainly some Merino’s being held back.

The weighted indicator for the main trading currencies was down 2.28 percent accounting for most of the price gain in the carpet wool sector with sales/supply pressure pushing Lambs wool and Fine Crossbred’s higher.

Mr Steel advises that Fine Mid Micron Fleece were 7 to 11 percent dearer with coarse types 3 percent dearer.

Fine Crossbred Fleece were 4 to 8 percent stronger. Fine Crossbred Shears were 2 to 8 percent dearer. Coarse Crossbred Fleece and Shears lifted 1 to 5 percent.

Finer Lambs Fleece were 2 to 7 percent dearer with coarser types 1 to 4 percent dearer.

Coarse Oddments ranged from firm to 7 percent stronger.

Well spread interest with China, India, Australasia and the Middle East principals, supported by United Kingdom and Western Europe.

Next sale on Wednesday 4th February comprises approximately 6,900 bales from the North Island and 6,600 bales from the South Island.

ends

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