Pricing signals were mixed at today's wool sale, with some
types reacting to recent currency fluctuations while others
continued to increase in value, New Zealand Wool Services
International Ltd reports.
In the combined auction of North and South Island wool in
Napier and Christchurch, 80 percent of the 15,500 bales on
offer sold.
Since the previous offering last Thursday, the New Zealand
dollar was up by 0.62 per cent against a weighted indicator
of the main international wool trading currencies. However,
the increase was substantially greater than this in the days
preceding the sale.
Despite this potentially negative influence on the local
market, some categories were strongly contested, with prices
firm to dearer, NZ Wool Services International said.
Fine crossbred fleece and shears were 1.5 to 4 percent
cheaper. Coarse crossbred fleece was generally firm, with the
shear types firm to 1 percent cheaper. First lambs' fleece
was firm to 3 percent cheaper
While long oddments ranged from 1 to 2 percent easier, prices
for short oddments went in the other direction, varying
between 2 and 6 percent stronger.
Buyers from China, India, Western Europe and the Middle East
were to the fore at the sale, supported by interests
representing Australasia and Asia.
Next Thursday's auction will be in Christchurch, offering
about 7600 bales of South Island wool and 1500 bales of North
Island wool.
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