The New Zealand wool market was up for a second successive week despite a stronger local currency. At the North Island sale held on 23 August, the Coarse Crossbred Indicator rose by 2 cents (0.6%) to close on 321 cents, and in US dollar terms gained 5 cents (2.4%) to finish on 215 US cents.
The New Zealand dollar strengthened by 1.58% against the US dollar compared with the previous week, finishing at 66.84 US cents.
The total offering was 6,208 bales, with a clearance rate of 89%.
Compared with the South Island sale on 16 August, prices moved as follows: Fine crossbred early shorn of 35 microns and finer 2-3% dearer. Coarse crossbred fleece of 36-39 microns – good styles firm, average styles firm, poorer styles 1-2% dearer. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch were firm, 3/4 inch firm, 2/4 inch firm, 2/3 inch firm. Crossbred oddments – good style 4% dearer.
Source: Wool Services International
