New Zealand goat hair prices rose 2% for the first time

New Zealand Wool Services International Co., Ltd. (WSI) reported that at the combined auction of the North Island and the Southern Island, the price of wool rose from stable to rising. The wool supply amounted to 26,000 bales, with 90.3% of transactions.

The index of major trade currencies fell by 1.86 percent compared to the previous auction on March 1 and prevented the downward trend in the price of the largest trading day for wool on a single day of the season. The price of fine hybrid wool and shearing has risen from stable to 5%, which is supported by stable interest rates in China. The price of rough hybrid wool rose by 1%-3%, and the price of rough sheared wool rose from stable to 3%.

The price of wool for the first time went from stable to rising by 2%. Except for the sale of some shorter types of wool on the southern island, the price of this type of wool dropped by 1%. The price of broken hair has risen from stable to 4%. The competition between buyers in China, Australia and China is good, and they are supported by purchasers from Western Europe, the United Kingdom and India.

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