-
Source: NZPA / R Tucker -
Related
Prices at Thursday's wool sales generally rose across the board on the back of strong demand and a lower New Zealand dollar, New Zealand Wool Services International reports.
Compared to the previous sale on January 21, the kiwi dollar was down 1.75% against a weighted indicator of the main international wool trading currencies.
While the softening dollar helped prices, values for most wool types were driven by increased demand and lower projected future wool volumes.
In the combined auction of 25,000 bales of North and South Island wool in Napier and Christchurch, 94% of the wool on offer sold, with South Island price levels generally edging above comparative types in the North Island.
According to NZ Wool Services International, compared to the last time offered, on January 14, mid micron wools increased between 2% and 5%.
Fine crossbred fleece and shears, last sold on January 21 were firm to 3% dearer on Thursday, while coarse crossbred fleece and second shears were 4-7% stronger.
First lambs wools ranged from 3.5-5% dearer with lamb oddments up 2.5-4%. Combing oddments finished 5-7% up on last week, while the shorter oddments rose 2.5-5.5%.
Competition at today's sales was well spread across various markets, with Chinese interests continuing to dominate the finer types, particularly lambs wool. Coarser wool types received most attention from Australasian carpet mills, China, India and the Middle East, with support from Western Europe and the United Kingdom.
Next Thursday's auction will be a combined sale of North and South Island wool, in Napier and Christchurch, offering about 6,800 bales and 6,000 bales respectively.
