The New Zealand wool market returned to a downward trajectory this week following last week’s small upturn.
At the North Island sale held on 18 October, the Coarse Crossbred Indicator fell by 5 cents (1.5%) to close on 319 cents, and in US dollar terms lost 1 cent (0.5%) to finish on 209 US cents.
The New Zealand dollar strengthened by 1.28% against the US dollar compared with the previous week, finishing at 65.53 US cents.
The total offering was 6,804 bales, with a clearance rate of 89%.
Compared with the South Island sale on 11 October, prices moved as follows: Fine crossbred fleece of 35 microns and finer 6% cheaper. Fine crossbred early shorn of 35 microns and finer 3-5% cheaper. Coarse crossbred fleece of 36-39 microns – good styles 5-6% cheaper, average styles 5% cheaper, poorer styles 3% cheaper. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch were 5% cheaper, 3/4 inch 2% cheaper, 2/4 inch 1% cheaper, 2/3 inch firm. Crossbred oddments – good style – 2-3% cheaper.
Source: Wool Services International
