Weak Dollar Drives New Zealand Wool Prices Up

New Zealand Wool Services International Ltd reported that in recent years, the price of wool has been basically consolidated in Christchurch's wool sales, except for some fine wool.

Since August 21st, the exchange rate between New Zealand dollar and the US dollar and the euro has decreased by 1.5%, but the exchange rate between the New Zealand dollar and the British dollar and Australian dollar has remained unchanged.

Trade and the weakness of the Australian market have reduced the price of the medium micron sector by 2%-4%, while good coarse wool has been strongly supported, and most types of wool have risen.

Fine shearing and 32-35 micron wool increased by 1%.

Coarse carpet wool increased by 1.5%, and long shearing increased by 1%-2%.

Short shearing price has increased by 2%-3%.

The smaller lamb is still stable.

The long broken wool increased by 1%-2%, and the short type of broken wool increased by 2%-4%.

Due to adverse weather conditions, the shearing scheme was postponed, while the number of sheep declined, and the supply of sheep was limited, which led to the cancellation of sales in Christchurch in September 4th.

The next sale of wool on the northern and southern islands will take place in September 11th, providing 12000 packs of wool in Napier and offering about 12000 bales of wool in Christchurch.

New Zealand wool service international has released a detailed weekly report on the trend of wool auction in New Zealand.