Friday, 11 April 2014 10:40

Wool market defies dollar

Written by Pamela Tipa

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DESPITE a resurgent New Zealand dollar, the South Island offering of 11,500 bales saw most types range from firm to 3% dearer, NZ Wool Services International Ltd's general manager, John Dawson, reports.

Even with the strength of the sale and an 86% clearance, some growers were still unprepared to accept current market levels with 13% of the offering being passed in.

The weighted indicator for the main trading currencies was 1.36%t up on the last sale on April 3.

Dawson says fine crossbred fleece and shears were between 1 and 3% firmer. Coarse full fleece were firm to 2% dearer with coarse shears firm to 3% dearer. Longer first lambs eased slightly with the balance firm to 2% dearer. Long oddments were generally firm with short oddments up to 1% dearer.

Good competition came from Australasia, China, India and Western Europe principals, and was supported by the Middle East and United Kingdom.

The next sale on Wednesday, April 16 comprises about 8,200 bales from the North Island.

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