Prices for most types firmed at yesterday's auction of North Island wool in Napier, which was the first sale of the 2010-2011 wool season.This was despite the exchange rate for the New Zealand dollar rising by 0.7 percent against a weighted indicator of t
Prices for most types firmed at yesterday's auction of North Island wool in Napier, which was the first sale of the 2010-2011 wool season.
This was despite the exchange rate for the New Zealand dollar rising by 0.7 percent against a weighted indicator of the main international wool trading currencies, since the previous wool sale, on June 30.
The exchange rate had minimal impact on prices for most wool types.
Of the 5400 bales on offer today, 81 percent sold, and the small offering of finer crossbred shears was well sought after, with prices strengthening between 2 percent and 5 percent.
Good colour coarse shears made up the bulk of the selection and held firm, but the average and poor styles fell in price between 1 percent and 3 percent.
Prices for a nominal offering of lambs' fleece increased by up to 2.5 percent. Oddments were also in good demand, with price rises ranging between 1 percent and 5 percent.
Buyers representing Australasian carpet mills, India and China led demand at today's sale, with support from Western Europe and the United Kingdom.
Next week's auction, on July 22, will be a combined sale of North and South Island wool, offering approximately 9500 bales and 15,100 bales respectively.
