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Friday, 28 August 2015 09:13

Wool market consolidates

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Lack of confidence in global markets and a weakening New Zealand dollar may have affected the latest South Island wool auction, says NZWSI.

Crossbred wool prices generally consolidated despite the weighted currency indicator reducing by 2.31% from .6229 last week to .6090, says NZWSI senior trader, Nathan Arthur.

Wool prices for Mid Micron Fleece 24.5 to 25.5 micron were 4% cheaper, 26 and 27 micron were 1% cheaper while 28 and 29 micron were 2% cheaper.

Fine Crossbred Fleece along with Fine Early Shorn and Second Shear with limited enquiry from China saw 33 to 35 micron wools were 2 to 4% cheaper while 34 to 36 micron 3 to 4 inch and 2 to 4 inch were 1 to 2% cheaper. 

Coarse Crossbred Fleece including Coarse Crossbred Early Shorn and Second Shear remained firm.

Coarse Crossbred Oddments Combing and Carding were firm.

The next sale is due on September 3 and comprises about 7800 bales from the North Island.

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