Subdued Demand And Strong Dollar Softens Wool Market

SUBDUED DEMAND AND STRONG DOLLAR SOFTENS WOOL MARKET

New Zealand Wool Services International Limited’s CEO, Mr John Dawson reports that the strong New Zealand dollar and restricted off-shore interest saw local prices ease.

Of the 8,300 bales on offer 65 percent sold.

The weighted currency indicator compared to the previous weeks’ auction lifted 0.65 percent.

Mr Dawson advises that compared to last week’s offering on 25th May:

Fine crossbred shears and fleece were buyers favour to 2 percent dearer.

Coarse crossbred good & average style full fleece was firm with poorer styles easing 5 percent.

Coarse longer shears were down 2 to 4 percent with the shorter 2 to 3 inch shears remaining firm.

Fine first lambs eased 2 percent with 30 micron and coarser increasing 4 percent.

Combing oddments were firm with clothing oddments sellers favour.

Next sale on 8th June comprises approximately 8,500 bales from the North Island.

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