The New Zealand wool market saw a slight strengthening this week due to the weaker local currency.
At the North Island sale held on 13 December, the Coarse Crossbred Indicator rose by 2 cents (0.7%) to close at 286 cents, and in US dollar terms stayed firm on 196 US cents.
The New Zealand dollar weakened by 0.51% against the US dollar compared with last week, finishing at 68.55 US cents.
The total offering was 5,323 bales, with a clearance rate of 93%.
Compared with the North Island sale on 6 December, prices moved as follows: Fine crossbred fleece of 33.5 microns and finer – nominally firm. Fine crossbred early shorn of 34 microns and finer – 2% dearer. Coarse crossbred fleece of 36-39 microns – good styles 1-2% dearer, average styles firm, poorer styles buyers favour. Among the coarse crossbred early shorn and second shear types of 36-39 microns, 3/5 inch were firm, 3/4 inch 1-2% dearer, 2/4 inch 1% dearer, and 2/3 inch 1-2% dearer. Crossbred oddments – good style – 1-3% dearer, poor style – up to 2% dearer.
Source: Wool Services International
