The New Zealand wool market stayed firm this week after the dramatic decline experienced last week.
At the South Island sale held on 15 November, the Coarse Crossbred Indicator remained unchanged on 287 cents, and in US dollar terms gained 1 cent to finish on 195 US cents.
The New Zealand dollar strengthened by 0.29% against the US dollar compared with last week, finishing at 68 US cents.
The total offering was 7,924 bales, with a clearance rate of 80%.
Compared with the South Island sale on 8 November, prices moved as follows: Fine crossbred fleece of 33 microns and finer 2-4% dearer. Fine crossbred early shorn of 34 microns and finer 1-2% dearer. Coarse crossbred fleece of 36-39 microns – good styles 1-2% dearer, average styles 1-2% dearer, poorer styles nominally firm. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch, 3/4 inch, 2/4 inch and 2/3 inch were all firm. Crossbred oddments – good style – sellers favour, poor style – nominally 1% dearer.
Source: Wool Services International
