The New Zealand wool market rose for a fourth consecutive week and was boosted by a further weakening in the local currency.
At the North Island sale held on 6 September, the Coarse Crossbred Indicator climbed by 5 cents (2.2%) to close on 334 cents, and in US dollar terms gained 1 cent (0.5%) to finish on 220 US cents.
The New Zealand dollar weakened by 1.08% against the US dollar compared with the previous week, finishing at 65.91 US cents.
The total offering was 6,754 bales, with a clearance rate of 93%.
Compared with the South Island sale on 30 August, prices moved as follows: Fine crossbred fleece of 35 microns and finer 1% dearer. Fine crossbred early shorn of 35 microns and finer firm. Coarse crossbred fleece of 36-39 microns – good styles firm, average styles firm, poorer styles firm. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch 3% dearer, 3/4 inch 3% dearer, 2/4 inch 2-3% dearer, 2/3 inch 2-3% dearer. Crossbred oddments – good style 3-4% dearer.
Source: Wool Services International
