The New Zealand wool market rose for a third consecutive week and was boosted by a slightly weaker local currency.
At the South Island sale held on 30 August, the Coarse Crossbred Indicator climbed by 8 cents (2.5%) to close on 329 cents, and in US dollar terms gained 5 cents (2.3%) to finish on 219 US cents.
The New Zealand dollar weakened by 0.31% against the US dollar compared with the previous week, finishing at 66.63 US cents.
The total offering was 12,592 bales, with a clearance rate of 90%.
Compared with the North Island sale on 23 August, prices moved as follows: Fine crossbred fleece of 35 microns and finer 2-4% dearer. Fine crossbred early shorn of 35 microns and finer 5-7% dearer. Coarse crossbred fleece of 36-39 microns – good styles 2% dearer, average styles 4% dearer, poorer styles 2% dearer. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch 2-3% dearer, 3/4 inch 3% dearer, 2/4 inch 1-2% dearer, 2/3 inch 1% dearer. Crossbred oddments – good style 3-5% dearer.
