The New Zealand wool market experienced a strong upturn this week with significant rises across almost all wool types.
At the South Island sale held on 21 February, the Coarse Crossbred Indicator rose by 8 cents (2.8%) to close on 294 cents, and in US dollar terms increased by 6 cents (3.1%) to finish on 202 US cents.
The New Zealand dollar strengthened by 0.9% to finish on 68.60 US cents.
The total offering was 8,010 bales, with a clearance rate of 95%.
Compared with the South Island sale on 14 February, prices moved as follows: Fine crossbred fleece of 35 microns B + BC – 5% dearer. Fine crossbred early shorn of 33-35 microns – 5% dearer. Coarse crossbred fleece of 37 microns and coarser – good styles 2% dearer, average and poor styles 8% dearer. Among the coarse crossbred early shorn and second shear types of 36-39 microns – poor styles 5% dearer, good to average styles up to 2% dearer. Crossbred oddments – 2% dearer. Lambs – 28 to 29 microns 5% dearer, 30 microns firm, 30.5 to 31 microns 7% cheaper.
Source: Wool Services International
