Low orders, strong dollar soften wool market
The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.
Marketing executive, Paul Steel says that of the 18,200 bales on offer 88.4% sold.
The weighted indicator for the main trading currencies was up 1.78% compared to the last sale on 12th March.
Steel says that Fine Crossbred Fleece and Shears ranged from firm to 5% dearer.
Coarse Crossbred Full Fleece were generally firm. Coarse Shears were firm to 2% cheaper.
First Lambs were firm to 1.5% cheaper overall.
Long Oddments were 2 to 7% easier with short types firm to 3% down.
There remains strong interest from China and Australasia with support from the Middle East, Western Europe, India, and the United Kingdom.
Next sale on 26th March comprises approximately 9,500 bales from the South Island.
