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Strengthening NZ$ does not dampen wool prices
25
May '09
Wool prices showed positive trends and bucked the strong New Zealand dollar in Napier last week. The NZ$ has strengthened by 1 percent against the currencies in which wool trading is normally conducted.

Fine and coarse cross bred wool fleece gained by nearly 2-6 percent on the back of an increase in demand, however, shears and short lambs wool fell by nearly 4 percent, despite demand also being seen in these categories.

Sales were good with nearly three-quarters of 10,000 bales put on auction were sold off. The next auction which is expected to take place in 15 days will have nearly 26,000 bales and will be a mix of North and South Island wool.

Fibre2fashion News Desk - India

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