Thursday, 22 December 2011 12:03

Currency keeps wool on the slide

Written by 

A NEAR 2% rally in the New Zealand dollar against the main wool trading currencies was reflected in corresponding slide in prices at this week’s combined North and South Island auction, says Wool Services International.

Following falls averaging 4% at each of the two previous sales, it brings the overall fall this month to about 10%.

Of 16,500 bales offered at Wednesday’s (December 21) sale, 76% sold with Chinese, Australasian and European buyers the principals, supported by sparing interest from the Middle East and India.

WSI general manager John Dawson said mid micron fleece was firm to 2% easier except for the 29.5 to 30.5 micron bracket which dropped 6-9%.

Fine crossbred fleece and shears, 32 to 35 micron, were firm to 2% cheaper while coarse crossbred fleece and shears, 36 micron and coarser, were generally 1.5% easier. However, poorer styles in the North Island eased up to 5%.

Coarse long oddments saw lifts of up to 5% in the South and a firm to 2% drop in the North.  Clothing oddments weakened 3-6% with the North Island affected the most.

The next auction is January 12, with 14,400 bales from the North and 9,600 bales from the South expected to be offered.

More like this

Wool petition hits Parliament

South Canterbury farmer Angela Blair has delivered a petition to Parliament calling on the Government to reverse its decision to fit rural schools with synthetic carpet.

NZ wool spun into accessories

Top quality wool from sustainably farmed New Zealand sheep is helping create luxurious everyday essentials including overnight bags, totes, and wallets.

Featured

Sheep drench resistance costly

Analysis by Dunedin-based Techion New Zealand shows the cost of undetected drench resistance in sheep has exploded to an estimated $98 million a year.

Dairy sheep and goat turmoil

Dairy sheep and goat farmers are being told to reduce milk supply as processors face a slump in global demand for their products.

Hurry up and slow down!

OPINION: We have good friends from way back who had lived in one of our major cities for many years.

National

Knowing bugs means fewer drugs

A mastitis management company claims to deliver the fastest and most accurate mastitis testing available at scale for New Zealand…

Machinery & Products

AGTEK and ARGO part ways

After 12 years of representing the Landini and McCormick brands in New Zealand, Bay of Plenty-based AGTEK and the brands’…

100 years of Farmall Tractors

Returning after an enforced break, the Wheat and Wheels Rally will take place on the Lauriston -Barhill Road, North-East of…

JD unveils its latest beast

John Deere has unveiled its most powerful tractor ever, with the launch of the all new 9RX Series Tractor line-up…

Biggest Quadtrac coming to NZ!

In the biggest announcement that Case IH Australia/New Zealand has made around its tractor range, its biggest tractor is about…

» Latest Print Issues Online

The Hound

Why?

OPINION: A mate of yours truly wants to know why the beef schedule differential is now more than 45-50 cents…

Fat to cut

OPINION: Your canine crusader understands that MPI were recently in front of the Parliamentary Primary Sector Select Committee for an…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter