The New Zealand wool market experienced a significant uplift this week.
At the South Island sale held on 7 March, the Coarse Crossbred Indicator rose by 6 cents (2%) to close on 298 cents, and in US dollar terms also climbed by 2 cents (1%) to finish on 202 US cents.
The New Zealand dollar weakened by 0.9% to finish on 67.80 US cents.
The total offering was 11,177 bales, with a clearance rate of 88%.
Compared with the North Island sale on 28 February, prices moved as follows: Fine crossbred fleece of 35 microns and finer – 5-6% dearer. Fine crossbred early shorn of 33-35 microns – 4-6% dearer. Among the coarse crossbred fleece of 37 microns and coarser, good styles were 3-4% dearer, average styles 2-3% dearer, and poor styles 1-3% dearer. Coarse crossbred early shorn and second shear types – 36-39 microns – good styles 1-2% dearer, average styles sellers favour, poor styles 1-2% dearer. Crossbred oddments – good to average styles 1-2% dearer, poor styles 2% dearer. Lambs – 28-29 microns 2-3% dearer, 30-31 microns 4-6% dearer, 31 microns and coarser 3-5% dearer.
Source: Wool Services International
