New Zealand Wool Services International Limited’s Senior Trader, Mr Nathan Arthur reports that at today’s South Island wool auction Crossbred wool prices generally consolidated despite the weighted currency indicator reducing by 2.31 percent from .6229 last week to .6090. There appears to be a lack of confidence in global markets which is creating some uncertainty with the New Zealand dollar weakening from .6604 last week to .6455 today.
Wool prices for Mid Micron Fleece 24.5 to 25.5 micron were 4 percent cheaper, 26 and 27 micron were 1 percent cheaper while 28 and 29 micron were 2 percent cheaper.
Fine Crossbred Fleece along with Fine Early Shorn and Second Shear with limited enquiry from China saw 33 to 35 micron wools were 2 to 4 percent cheaper while 34 to 36 micron 3 to 4 inch and 2 to 4 inch were 1 to 2 percent cheaper.
Coarse Crossbred Fleece including Coarse Crossbred Early Shorn and Second Shear remained firm.
Coarse Crossbred Oddments Combing and Carding were firm.
Next sale on 3rd September comprises approximately 7,800 bales from the North Island.