The New Zealand wool market declined for a third week in a row despite a significantly weaker local currency.
At the North Island sale held on 4 October, the Coarse Crossbred Indicator fell by 9 cents (2.7%) to close on 321 cents, and in US dollar terms lost 11 cents (5%) to finish on 209 US cents.
The New Zealand dollar weakened by 2.31% against the US dollar compared with the previous week, finishing at 65 US cents.
The total offering was 8,555 bales, with a clearance rate of 87%.
Compared with the South Island sale on 27 September, prices moved as follows: Fine crossbred fleece of 35 microns and finer 4-5% cheaper. Fine crossbred early shorn of 35 microns and finer 2-4% cheaper. Coarse crossbred fleece of 36-39 microns – good styles 2-4% cheaper, average styles 4-5% cheaper, poorer styles 6% cheaper. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch were 3-4% cheaper, 3/4 inch 3% cheaper, 2/4 inch 2-3% cheaper, 2/3 inch 2% cheaper. Crossbred oddments – good style 2-4% cheaper.
Source: Wool Services International
