Exchange rate forces wool prices down at sales

A stronger exchange rate forced down prices at last week's combined South and North Island wool sales.

Since the previous sale, the New Zealand dollar has firmed about 1% against key trading currencies, and this saw most types easing in price by about 2%.

A nominal offering of mid-micron wool provided the only bright spot, increasing in price 2% while fine crossbred and shears eased between 1.5% and 2%.

Good colour coarse fleece fell by up to 1.5% and poorer styles by up to 2%.

Coarse early shorn and second shears were unchanged in price, and first lamb's fleece and all oddments were up to 2% cheaper.

The sale attracted 13,400 bales, of which 82% sold.

Next week's South Island auction has attracted 7800 bales.

 

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