The New Zealand wool market lifted this week despite a stronger local currency.
At the South Island sale held on 29 November, the Coarse Crossbred Indicator rose by 2 cents (0.7%) to close at 289 cents, and in US dollar terms gained 3 cents (1.5%) to finish on 199 US cents.
The New Zealand dollar strengthened by 0.73% against the US dollar compared with last week, finishing at 68.80 US cents.
The total offering was 6,892 bales, with a clearance rate of 14%.
Compared with the North Island sale on 22 November, prices moved as follows: Fine crossbred fleece of 33 microns and finer sellers favour. Fine crossbred early shorn of 34 microns and finer – firm. Coarse crossbred fleece of 36-39 microns – good styles 2-3% dearer, average styles 2-3% dearer, poorer styles 1-3% dearer. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch were 1-2% dearer, 3/4 inch 1-2% dearer, 2/4 inch 1-2% dearer, and 2/3 inch firm. Crossbred oddments – good style – 1-3% dearer, poor style – 2-3% dearer.
Source: Wool Services International
