Friday, 24 June 2016 14:55

Low orders, strong dollar soften wool market

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The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease. The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.

The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.

New Zealand Wool Services marketing executive, Malcolm Ching says of the 12,180 bales on offer from the predominantly short second shear wools in the North Island, 77% sold.

The weighted currency indicator compared to the previous weeks' auction lifted 0.65%.

Ching advises that compared to the similar offering of North Island wools on June 9:

Fine crossbred shears were 2 to 4% cheaper.

Coarse crossbred full fleece were firm to 3.5% easier.

Coarse shears were down 3 to 6% with the shorter types affected the most.

Short first lambs were 2 to 4% softer.

Coarse short oddments were 2.5 to 5.5% cheaper.

There was limited interest with Australasia, Western Europe, United Kingdom principals, supported by India, Middle East and China.

The news sale on June 30 comprises about 11,300 bales from the South Island.

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