Wool holds ground despite rising dollar

Strengthening of the New Zealand dollar took the steam out of the rising wool market at last week's combined sale of North Island and South Island wool.

New Zealand Wool Services International general manager John Dawson said given the appreciating currency, the 8000 bales did well to hold their ground.

Merino and mid-micron wool rose 1.5%-5.5%, fine crossbred fleece and shears were firm, but shorter types eased 1.5%.

The price for coarse fleece was firm to 2% softer, while oddments were firm.

Wool Partners International said prices firmed despite the exchange rate reaching a two-year high, helped by exporters' worries about filling orders given low volumes of wool coming on the market.

There was a 5% passing rate.

 

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