NZ Wool Services Market Report: Dollar Strong- Wool Easier
DOLLAR STRONG- WOOL EASIER
New Zealand Wool Services International ltd’s CEO, Mr John Dawson reports the combined North and South Island wool auctions offering 11800 bales saw a 71 percent clearance with most prices easing.
The weighted indicator for the main trading currencies was 1.64 percent up on last sale having a negative impact on local levels.
The market is still dominated by a strong NZ dollar restricting business, compounded by continued subdued Chinese interest and very targeted buying from elsewhere.
Mr Dawson advises that compared to the last South Island sale on 20th October;
Merino fleece 17 to 20 micron were firm to 3.5 percent dearer with 20.5 to 23.5 firm to 3.5 percent cheaper.
Mid Micron Fleece 24.5 to 28 micron were 2 to 4 percent cheaper with 28.5 to 30 micron 2.5 percent cheaper.
Fine crossbred fleece 31 to 35 micron were 2 to 3.5 percent cheaper with Coarse crossbred fleece firm to 3 percent cheaper.
Compared to the North Island sale on 27th October;
Fine crossbred early shorn and shears were 1 to 2 percent cheaper in the South and 3.5 to 8 percent cheaper in the North.
Coarse shears ranged from firm to 7 percent cheaper with levels in the north significantly lower than the south.
Short oddments were generally dearer in the south and cheaper in the north.
Good competition with China and Western Europe dominating the fine wool sector. Australasia, Western Europe and China supported the coarser sector with assistance from the Middle East, United Kingdom and India.
Nest sale on 17th November comprises approximately 5,500 bales from the South Island.