Thursday, April 25, 2024

Round-up: Local wool market lifted by easing NZ dollar

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The first sale after the Christmas break of approximately 13,700 bales from the North Island saw a generally firmer market in local terms with 98.5% selling, New Zealand Wool Services International cheif executive John Dawson says. The weighted indicator for the main trading currencies eased 1.3% compared to the previous sale on December 17, however compared to the US dollar the New Zealand was back 1.9%. This weakening NZ dollar underpinned the market for most types.
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Dawson said that an increase in enquiry from Asian markets and urgent shipment requirements pressured the finer crossbred fleece. Full fleece of 33 microns lifted up to 6% with 34-35 microns 1-2% firmer.

Fine crossbred shears were firm to 2.5% dearer.

Good style coarse fleece were 1-2% firmer, average style 1.5-3.5% dearer and poor style 2-4% stronger.

Coarse second shears were firm to 3% dearer.

Fine first lambs' fleece were up to 1% firmer with coarser types 1-2% easier.

Coarse long oddments eased 2-4% with good colour short oddments lifting 3-4.5% and poor styles 1% cheaper.

Principal interest from China, Australasia and the Middle East with support from Western Europe, United Kingdom and India.

The next sale on January 14 comprises approximately 9200 bales from the North Island and 6800 bales from the South Island.

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