Wool market saw price plunge over dollar rate

The steady demand, limited wool volumes and exporter shipping requirements are in a fine balance at present, with only the stronger NZ dollar holding prices back compared to last sale on 6th March

Of the 6,300 bales on offer 78.5 percent were sold. Fine Crossbred Fleece and Shears 32 to 35 micron were firm to 1 percent cheaper.

Good and Average Style full fleece 36 micron and coarser were up to 2 percent cheaper with poor styles fully firm.

Coarse shears were firm to 2 percent easier. Long coarser First Lambs were up to 3 percent cheaper with 2/4 inches firm to 1 percent dearer and shorter types firm to 2 percent cheaper.

Long Oddments were 2 to 4 percent cheaper with short oddments 1 to 2.5 percent cheaper.

Currency, the weighted indicator for the main wool trading was lifted by 1.24 percent.

Limited competition with Australasia, Western Europe, Middle East and United Kingdom principals was supported by India and China.

Next sale will put up approximately 13,700 bales from the North Island and 7,150 bales from the South Island which will be held on 20th March. Whilst it will be advantageous to see our largest customers return to their normal buying patterns, foreign exchange rate uncertainties could continue to hamper decision making