Volatile NZ dollar makes wool buyers think twice

Some buyers tried to reduce their exposure, PGG Wrightson Wool says. Photo by Peter McIntosh.
Some buyers tried to reduce their exposure, PGG Wrightson Wool says. Photo by Peter McIntosh.
Prices for most wool types finished cheaper at this week's South Island wool sale, particularly 34 and 35 micron ewe wool and 32 micron lambs wool.

The New Zealand dollar continued to show volatility in the international marketplace, providing a level of uncertainty for buyers.

Some buyers were choosing only to ''buy hand to mouth'' to reduce exposure, Dave Burridge, of PGG Wrightson Wool, said.

There was reduced competition with Asia, Australasia and the Middle East most active, supported by Western Europe, India and the United Kingdom.

It was the last of the weekly sales as volumes reduced coming into stores. The next sale is on April 9.

A range of prices -S. G. Rutherford (Tapanui), 33 bales crossbred AA, 36.2 micron, 76.1% yield, 385 greasy, 506 clean; Longridge Partnership (Lawrence), 20 bales Romney early-shorn AA, 38.1 micron, 77.2% yield, 395 greasy, 512 clean; Verterburn Farming Co (Outram), 24 bales Perendale lambs AA, 31 micron, 81.5% yield, 525 greasy, 644 clean; Summerhills Ltd (Middlemarch), 18 bales crossbred second-shear AA, 38.2 micron, 82.6% yield, 414 greasy, 501 clean; Mavore Downs Partnership (Lawrence), eight bales Romney lambs AA, 31.1 micron, 79.9% yield, 506 greasy, 633 clean.

Add a Comment