Editorial: Making wool great again
OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.
The weakening NZ dollar, particularly against the US dollar which was down 4.97% compared to the last sale on May 9 and the weighted currency indicator down 3.91% was the principal market influence. This was supported by recent strong purchasing interest and a seasonal limited wool supply.
Dawson says a nominal offering of mid micron fleece were firm to 3% dearer.Fine crossbred fleece lifted up to 3.5% with the second shears 5 to 8% stronger. Good colour coarse crossbred fleece lifted 6% with poorer styles 2.5 to 5.5% dearer.
Coarse longer second shears were 4 to 6.5% firmer with shorter types 5 to 9% stronger. First lambs fleece ranged from 3 to 7% dearer. All coarse oddments were 9 to 10% stronger.Strong competition from Western Europe, Australasia and the United Kingdom was supported by China, India and the Middle East.
The next sale on the May 30 comprises 11,300 bales from the North Island.
