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Lack Of Orders And Strong Dollar Softens Wool Market
Lack Of Orders And Strong Dollar Softens Wool Market
New Zealand Wool Services International Limited’s Marketing Executive, Mr Malcolm Ching reports that the strong New Zealand dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.
Of the 12,180 bales on offer from the predominantly short second shear wools in the North Island, 77 percent sold.
The weighted currency indicator compared to the previous weeks’ auction lifted 0.65 percent.
Mr Ching advises that compared to the similar offering of North Island wools on 9th June:
Fine Crossbred Shears were 2 to 4 percent cheaper.
Coarse Crossbred Full Fleece were firm to 3.5 percent easier.
Coarse Shears were down 3 to 6 percent with the shorter types affected the most.
Short First Lambs were 2 to 4 percent softer.
Coarse Short Oddments were 2.5 to 5.5 percent cheaper.
Limited interest with Australasia, Western Europe, United Kingdom principals, supported by India, Middle East and China.
Next sale on 30th June comprises approximately 11,300 bales from the South Island.
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