Strong Dollar Eases Wool Prices

Strong Dollar Eases Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that a resurgent New Zealand dollar against all its main trading currencies saw most types ease on the local market.

The weighted currency indicator was 1.32 percent higher than the last sale on 26th February. Of the 21,200 bales on offer from both Islands, 87 percent sold.

Mr Dawson advises Fine Crossbred Fleece and shears were generally firm to 4 percent cheaper with some conflicting inter-island market movements, influenced by shipping requirements.

Coarse Fleece and shears were firm to 2 percent cheaper.

First Lambs were generally firm to 3 percent cheaper.

Long Oddments were firm to 4 percent easier with short types ranging from 4 percent dearer to 5 percent cheaper depending on style and selling centre.

Good competition with China now returning to the market, supported by India, Australasia, United Kingdom, Middle East and Western Europe.

Next sale on 12th March comprises approximately 8,100 bales from the South Island.

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