Strong NZ Dollar Softens Local Market

Strong NZ Dollar Softens Local Market

New Zealand Wool Services International Ltd’s Marketing Manager, Mr Malcolm Ching reports that the stronger NZ dollar and high proportion of shorter second shears wools on offer this week, saw a corresponding easing in prices for several types, however longer wools were well supported.

The weighted indicator for the main trading currencies was 1.82 percent up on last week, with 80 percent of the 8640 bales on offer selling.

Mr Ching advises that compared to the last similar North Island selection offered on 21 July;

Fine Crossbred full fleece were 2 percent easier with shears firm to 1 percent dearer.

Coarse Crossbred full fleece ranged from firm to 3 percent dearer.

Coarse Shears were firm to 3 percent cheaper except 2/3 inch good style which were 2 to 3.5 percent stronger.

Short Oddments were firm to 2.5 percent dearer.

When compared to the more varied and stylish South Island selection on 4th August, Full Fleece were slightly softer with Coarse Shears easing further.

Good competition with Australia, Western Europe, India and China principals, supported by United Kingdom and the Middle East.

Next sale on 18th August comprises approximately 6300 bales from the South Island, down 3200 bales on anticipated roster due to recent adverse weather conditions.

ENDS

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