New Zealand's Wool Prices Again Consolidated

New Zealand

In the smaller supply of 5500 packages, the price of most types of wool is higher than last week's auction.

The exchange rate trend hardly played a big role in today's auction. The heavyweight index of the major trading currencies increased by only 0.4% from the last auction in May 5th.

John Dawson, general manager of New Zealand wool service international, said that although today's wool auction prices in the northern and southern islands have risen, the northern island has selected some of the less abundant wool.

In the provision of wool from the southern island, the fine hybrid wool increased by 1.5%. In coarse wool, the quality color meeting remained stable, the average type of wool increased by 1%, and the inferior type of wool increased by 2.5%.

The price of coarse shearing two times increased by 1.5%-5%, and the shorter type of wool increased the most.

The price of lamb also increased again, the increase was 2%-5%, the shorter type of wool was barely stable, the length of broken wool increased by 7-12%, and the shorter type of wool increased by 1%-3.5%.

Mr. John Dawson said there was limited competition at auction today.

Australia, Western Europe and the Middle East continue to speak of the main market, with support from China, India and the United Kingdom.

The next auction is planned for May 12th. The northern island is estimated to have 10200 bags of wool and 10400 bags of wool from the southern island.