Weaker New Zealand Dollar Helps Wool Prices

Weaker New Zealand Dollar Helps Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the weakening New Zealand dollar helped local prices this week with most types increasing by the corresponding currency change.

The weighted indicator for the main trading currencies was down 2.04 percent compared to the last sale on 9th July.

Of the 7,900 bales on offer from the South Island, 88 percent sold with types suitable for in the grease shipments coming under strong competition.

Mr Dawson advises that compared to the South Island sale on 25th June, Mid Micron Fleece 24.5 to 27.5 microns were firm to 1.5 percent dearer with 28 and 29 microns not as sell supported, coming down 1 to 4 percent.

Compared to the last time offered at the North island sale on 9th July, Fine Crossbred Fleece remained firm with longer shear types up to 3 percent dearer. Coarse Crossbred Fleece were firm to 2 percent stronger.

Coarse Shears 3 to 5 inches were up 1 to 2 percent, 3 to 4 inches 2.5 to 4.5 percent dearer and 2 to 4 inch and shorter, 2 to 3 percent dearer.

Long Oddments were nominally 2 percent dearer with short oddments ranging from 1 percent cheaper to 2 percent dearer.

Widespread interest for the wide cross section of types available with Chinese shippers most active, supported by Australasia, Western Europe, Middle East and India.

Next sale on 23rd July comprises approximately 6,000 bales from the North Island, down 32 percent on anticipated roster due to poor weather delaying shearing.

ENDS

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