Wool campaign making strides
A group set up to boost education and promotion of wool says it has made positive strides during the first year of its three-year strategy.
New Zealand Wool Services International Limited's marketing executive, Malcolm Ching, reports that wool prices have continued to decline.
This is despite a slightly easier New Zealand dollar compared to the last sale on 15 October.
The weighted indicator for the main trading currencies came down 0.85 percent. Of the 8,290 bales on offer, 70% sold.
Ching advises that the tightening of the Chinese economy is restricting new business with exporters covering for old orders only, with quota issues restricting concluding new contracts.
Compared to 8th October sale;
Merino Fleece 17 to 18.5 and 22 to 23.5 microns eased 2 to 6% with pressure on 19 to 19.5 microns increasing levels by 4%.
Mid Micron wools were neglected with 24 to 29.5 microns reducing by 8 to 9%.
Compared to 15th October sale;
Fine Crossbred Fleece 31 to 32 microns were 11 to 13% cheaper.
Fine Crossbred Shears 32 to 35 microns were down 1.5 to 3.5%.
Full Fleece coarser than 36 microns were nominally up to 1% easier.
Coarse Shears were 1.5 to 2% down.
Short oddments were 3 to 5% cheaper.
Limited competition with old orders for China dominating the finer wools and Australasia supporting the coarser sector. Limited support from Western Europe, Middle East, United Kingdom and India.
Next sale on 29October comprises of approximately 5,100 bales from the North Island.
South Waikato farm manager Ben Purua’s amazing transformation from gang life to milking cows was rewarded with the Ahuwhenua Young Maori Farmer award last night.
Bankers have been making record profits in the last few years, but those aren’t the only records they’ve been breaking, says Federated Farmers vice president Richard McIntyre.
The 2023-24 season has been a roller coaster ride for Waikato dairy farmers, according to Federated Farmers dairy section chair, Mathew Zonderop.
Ministry for Primary Industries (MPI) director general Ray Smith says job cuts announced this morning will not impact the way the Ministry is organised or merge business units.
Scales Corporation is acquiring a number of orchard assets from Bostock Group.
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