The New Zealand wool market declined for a second week in a row and was again affected by a stronger local currency.
At the South Island sale held on 27 September, the Coarse Crossbred Indicator fell by 7 cents (2.1%) to close on 330 cents, and in US dollar terms lost 3 cents (1.3%) to finish on 220 US cents.
The New Zealand dollar strengthened by 0.77% against the US dollar compared with the previous week, finishing at 66.54 US cents.
The total offering was 12,308 bales, with a clearance rate of 74%.
Compared with the North Island sale on 20 September, prices moved as follows: Fine crossbred fleece of 35 microns and finer 2-3% cheaper. Fine crossbred early shorn of 35 microns and finer 2-4% cheaper. Coarse crossbred fleece of 36-39 microns – good styles 1% cheaper, average styles firm, poorer styles firm. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch were 1% cheaper, 3/4 inch 1% cheaper, 2/4 inch 2-3% cheaper, 2/3 inch 3% cheaper. Crossbred oddments – good style 2-3% dearer.
Source: Wool Services International
