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The local market lifted significantly for the 10,400 bales on offer at the South Island sale this week, NZ Wool Services International Ltd's general manager, John Dawson says.
The weakening NZ dollar, particularly against the US dollar which was down 4.97% compared to the last sale on May 9 and the weighted currency indicator down 3.91% was the principal market influence. This was supported by recent strong purchasing interest and a seasonal limited wool supply.
Dawson says a nominal offering of mid micron fleece were firm to 3% dearer.Fine crossbred fleece lifted up to 3.5% with the second shears 5 to 8% stronger. Good colour coarse crossbred fleece lifted 6% with poorer styles 2.5 to 5.5% dearer.
Coarse longer second shears were 4 to 6.5% firmer with shorter types 5 to 9% stronger. First lambs fleece ranged from 3 to 7% dearer. All coarse oddments were 9 to 10% stronger.Strong competition from Western Europe, Australasia and the United Kingdom was supported by China, India and the Middle East.
The next sale on the May 30 comprises 11,300 bales from the North Island.
While wool returns continue in the doldrums, smart sheep farmers are looking for alternatives for a product that currently cost more to get off a sheep's back than it's worth. One such initiative is run by husband and wife team Hayden and Anastasia Tristram who farm at Wanstead in the Central Hawke's Bay. Mark Daniel reports.
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