Friday, 16 October 2015 12:51

Strong dollar and slow market lowers wool prices

Written by 

NZ Wool Services International Limited's CEO John Dawson says the strengthening dollar and low overseas interest saw most types ease for the 5,100 bales of North Island wool on offer this week.

The weighted currency indicator compared to the last sale on the 8th of October firmed 2.27%, having an easing effect on local wool prices with 82% selling.

Very limited activity from the usually dominant Chinese market saw their usual types incur significant reductions, however continued covering from past sales for the Australasian carpet market resulted in steadier prices for this sector on limited supply.

Dawson advises, Finer Crossbred full fleece were 13% to 17% cheaper with the coarser end 3% easier.

Fine Crossbred shears ranged from 1% to 3% cheaper in local terms with the very short types fairing the best.

Full length Coarse Crossbred wools were 2% to 3% cheaper with shears firm to 1% easier.

Short Oddments received limited attention, reducing up to 10%.

Limited competition with most activity covering old sales to China and Australasia with limited interest from Western Europe, Middle East, United Kingdom and India.

Next sale on 22nd October comprises approximately 7,950 bales from the South island.

More like this

A big win for wool!

State-owned social housing provider Kainga Ora is switching to wool carpet for its new homes.

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.

Featured

Brendan Attrill scoops national award for sustainable farming

Brendan Attrill of Caiseal Trust in Taranaki has been announced as the 2025 National Ambassador for Sustainable Farming and Growing and recipient of the Gordon Stephenson Trophy at the National Sustainability Showcase at in Wellington this evening.

» Latest Print Issues Online

The Hound

Don't hold back!

OPINION: ACT MP Mark Cameron isn’t everyone’s cup of tea, but he certainly calls it how he sees it, holding…

Sorry, not sorry

OPINION: Did former PM Jacinda Ardern get fawning reviews for her book?

» eNewsletter

Subscribe to our weekly newsletter