Prices for most types of wool rose at today's national wool auction, despite an unfavourable lift in the value of the NZ dollar, which effectively lifts the costs of exports from this country.The sale was a combined auction of North and South Island wool
Prices for most types of wool rose at today's national wool auction, despite an unfavourable lift in the value of the NZ dollar, which effectively lifts the costs of exports from this country.
The sale was a combined auction of North and South Island wool in Napier and Christchurch, and 78%of the 14,250 bales on offer sold.
The weighted indicator ranking the New Zealand dollar against the main international wool trading currencies was 1.76% higher than the previous sale on May 27, which would normally have undermined local price levels.
But sale manager New Zealand Wool Services International said interest in the bulk of today's offering was stronger than anticipated.
An offering of nominal volumes of mid micron fleece, between 27 and 30.5 microns in fibre diameter, strengthened 2 percent to 4 percent, with prices for the fine crossbreds increasing between 1.5 and 3.5 percent.
Finer carpet type fleece wools were strongly contested, gaining in price by 6 percent. Coarser good colour fleece rose by up to 4 percent, with the other styles generally firm. Coarse shears ranged from firm on last week to 5 percent dearer, with poorer styles in the North Island benefiting the most.
Prices for combing lambs' fleece ranged from firm to a 1 percent drop.
A small selection of fine short lambs' wool was subject to intense competition, with prices ranging from 4 percent to 15 percent dearer, with South Island lots getting the most benefit.
Shorter, coarser lambs' fleece was firm to 2 percent stronger.
Oddments were all firm to 3 percent dearer.
Buyers from China, India and the Middle East dominated widespread interest at today's sales, with support demonstrated by the United Kingdom and Australasian carpet mills.
Next week's scheduled sale has been cancelled because of last week's poor weather throughout the country, and the next rostered wool auction will be another combined sale of North and South Island wool, in Napier and Christchurch, on June 17, offering about 19,000 bales, weather permitting.
