The New Zealand wool market moved up this week following three successive weeks of losses.
At the South Island sale held on 11 October, the Coarse Crossbred Indicator rose by 3 cents (0.9%) to close on 324 cents, and in US dollar terms gained 1 cent (0.5%) to finish on 210 US cents.
The New Zealand dollar weakened by 0.46% against the US dollar compared with the previous week, finishing at 64.70 US cents.
The total offering was 10,855 bales, with a clearance rate of 83%.
Compared with the North Island sale on 4 October, prices moved as follows: Fine crossbred fleece of 35 microns and finer 2-3% dearer. Fine crossbred early shorn of 35 microns and finer 2-3% dearer. Coarse crossbred fleece of 36-39 microns – good styles 2-4% dearer, average styles 5% dearer, poorer styles 2% dearer. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch were 3% dearer, 3/4 inch 3% dearer, 2/4 inch 1% dearer, 2/3 inch firm. Crossbred oddments – good style – 33 microns and finer 2-3% cheaper, 34 microns and coarser firm.
Source: Wool Services International
