The sale of New Zealand's largest wool exporter to private
Australian interests is unlikely to sit well with its New
Zealand farmer-shareholders, but could provide a channel to
new global markets.
Prices strengthened across most micron categories while
poorer colour fleece, which had been struggling in recent
weeks, met with good competition at the wool sale in
Christchurch last week.
A slightly weaker New Zealand dollar and increased
international demand combined to improve most prices at the
wool sale in Christchurch yesterday.
A stronger New Zealand dollar played a major factor in the
generally softer market at the South Island wool sale in
Prices continued to slide for all wool types at the South
Island wool sale in Christchurch yesterday, prompting growers
to reserve wool.
Prices finished firm for most longer wool types, but cheaper
for shorter fleece and mid-micron types at the wool sale in
Christchurch this week.
Lower export prices led a fall in New Zealand's terms of
trade in the three months ended March with the good news
being the fall was slightly smaller than expected.
A weaker New Zealand dollar and restricted supplies, coupled
with renewed overseas buying, saw prices rebound dramatically
at the wool sale in Christchurch this week.
Prices eased at the wool sale in Christchurch yesterday with
poorer styles most affected.
Wool prices strengthened for most types as buyers at the wool
sale in Christchurch yesterday were active in securing good
volumes for scouring and prompt shipping.
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