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Strong NZ Dollar Softens Woolprices

Strong NZ Dollar Softens Woolprices

New Zealand Wool Services International Ltd’s Marketing Executive, Mr Paul Steel reports that the strengthening NZ dollar and completed shipping requirements, saw most types ease this week, with the finer crossbred wools impacted the most. The weighted indicator for the main trading currencies lifted by 1.39 percent compared to the last sale on 19th March. Of the 9,700 bales on offer, 81 percent sold.

Mr Steel advises that this weeks South Island prices came more into line with North Island levels in the finer wools as urgent shipments for Asia were completed. The price disparity between centres has now largely disapated.

Fine Crossbred Full Fleece eased 3 to 5 percent with shorter shears 2 to 4 percent cheaper. Good and Poor Colour coarse crossbred full fleece remained firm with average style 1 percent easier.

Coarse shears were down 1 to 3 percent. First lambs were 1.5 to 2.5 percent cheaper. Long coarse oddments were 2 percent softer with good colour short oddments firm and average/poor styles 1 to 4 percent easier.

Reduced competition, with Asia, Australasia and the Middle East most active, supported by Western Europe, India and the United Kingdom.

Next sale on Wednesday 1st April, due to the Easter break, comprises approximately 7,800 bales from the North Island.

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