An easing dollar boosted wool prices at last week's combined
auction of 15,760 bales of North and South Island wool.
New Zealand Wool Services International manager John Dawson
said gains in the wool market were aided by a weaker New
Zealand dollar.
Solid competition resulted in 98% of the wool on offer being
sold. Mr Dawson said strong demand continued to underpin the
market, with the falling New Zealand dollar adding to the
stronger prices.
Mid-micron and finer crossbreds gained between 2% and 6%,
longer fine crossbred shears benefited from strong Chinese
interest, lifting between 3.5% and 11%. Shorter types
increased only in proportion to the currency movement.
Good colour coarse crossbred fleece rose between 2% and 5%
and poorer styles between 1.5% and 2%. Coarse early-shorn and
second-shear wools lifted between 1% and 4%, with longer wool
increasing the most.
First lamb's wool, especially finer types, attracted strong
contest, increasing between 2% and 12%.
Oddments also increased, rising between 3% and 13%.
Wool Partners International head auctioneer Dave Burridge
said buyers commented that they would like to see prices
consolidate.
A concern was the ability of exporters to fund their
purchasers given the tighter bank criteria.
About 9500 bales from the North Island and 10,100 bales of
South Island wool will be offered on Thursday.
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