The New Zealand wool market rose for a fifth consecutive week and was boosted by a further weakening in the local currency.
At the South Island sale held on 13 September, the Coarse Crossbred Indicator climbed by 8 cents (2.4%) to close on 342 cents, and in US dollar terms gained 4 cents (1.8%) to finish on 224 US cents. The New Zealand dollar weakened by 0.47% against the US dollar compared with the previous week, finishing at 65.60 US cents.
The total offering was 11,388 bales, with a clearance rate of 80%.
Compared with the North Island sale on 6 September, prices moved as follows: Fine crossbred fleece of 35 microns and finer 2% dearer. Fine crossbred early shorn of 35 microns and finer 2% dearer. Coarse crossbred fleece of 36-39 microns – good styles 3% dearer, average styles 1-2% dearer, poorer styles 1% dearer. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch 1% dearer, 3/4 inch 1-2% dearer, 2/4 inch 1-2% dearer, 2/3 inch firm. Crossbred oddments – good style 2-3% dearer.
Source: Wool Services International
