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Dollar Eases Wool

Dollar Eases Wool

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the strengthening New Zealand dollar impacted on local prices with most types easing slightly.

Compared to the last sale on 12th February the weighted indicator for the main trading currencies moved up 2.14 percent causing most of the market shift.

Of the 14,200 bales on offer from both selling centres 90.6 percent sold with some wide variations between types and the North Island levels generally below the South’s.

Mr Dawson advises Fine Crossbred Fleece and Shears were firm to 3 percent cheaper.

Good colour Coarse Crossbred Fleece were firm to 1 percent dearer with average and poor styles Coarse Shears were generally firm to 3 percent cheaper.

First Lambs were firm to 2 percent cheaper for the finer types and 1 to 4.5 percent cheaper for the coarser types with North Island poorer styles impacted the most.

Long Oddments ranged from 1 percent cheaper to 5 percent dearer with better colour short oddments generally 1 to 2.5 percent dearer and the remainder 4 to 5 percent cheaper.

Restricted competition reflected in the targeted buying pattern with the Chinese New Year vacations slowing enquiry from this quarter. Most activity was for covering existing back orders for China, supported by Australasia, India, Middle East and Western Europe.

Next sale on 26th February comprises approximately 7,800 bales from the South Island.

ends

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