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Friday, 08 May 2015 16:00

Wool prices bounce

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Wool prices bounce

A weaker New Zealand dollar, limited wool volumes and renewed client interest, combined to lift local prices across the board says NZWSI general manager, John Dawson.

Of the 6,350 bales on offer, 99% sold.

The weighted indicator for the main trading currencies was down 1.79% compared to the last sale on April 30.

Fine crossbred full fleece and longer shears were 7 to 10% dearer, stimulated by resurgent Chinese interest with shorter types 3 to 6% firmer.

Coarse crossbred full fleece and longer shears were 5 to 11% dearer with shorter types 4 to 8% stronger.

Lambs fleece lifted 4 to 6%. Good colour short oddments were 8% dearer with poorer styles up 8 to 12%.

The sale saw limited competition with China dominating supported by Australasia, Middle East, India and Western Europe.

The next sale is on May 14 and comprises about 4,600 bales from the North Island, down 32% on anticipated rostered volumes.

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