Saibosi partners with Wools of New Zealand to showcase farm-to-floor wool rugs in China
Chinese textile company Saibosi has partnered with Wools of New Zealand to put the 'farm to floor' story of New Zealand wool rugs on screen for its customers.
The rising New Zealand dollar being toyed with on the international currency market is driving local wool values down, says New Zealand Wool Services International Ltd's general manager, John Dawson.
The combined North and South Island wool auction comprising 18,900 bales saw a 73% clearance and apart for some types with limited volumes the market was continuing to trend downwards.
Dawson advises the weighted indicator for the main trading currencies was up 1.69% compared to the last sale on January 26 and particularly strong against the USD and euro.
A small selection of Mid Micron and Fine Crossbred Fleece resisted the negative impact of the currency increasing by 1-2%.
Fine Crossbred Shears received mixed attention, with the South Island easing by 1-2.5% and the North remaining firm to 3% stronger, although the North values are still below similar types in the South.
A similar scenario arose for the Coarse Crossbred Fleece with the South easing by 2-3% and the North increasing 1-2.5% however; again the North's values are still lower than the South's.
Coarse Shears generally weakened 1-5 % with the shorter and poorer wools affected the most.
First Lambs 2/3 inch and longer were firm to 4% dearer, with shorter types 2% cheaper.
A limited Oddment offering was 1-3% easier.
Widespread competition with China, Australasia and Western Europe principals supported by India, Middle East and the United Kingdom.
The next sale on February 9 comprises about 10,900 bales from the North Island and 8,900 bales from the South Island.
Federated Farmers says the final report into banking competition is a significant step forward for rural New Zealand - and a vindication of the farming sector's concern.
Fonterra chair Peter McBride expects a strong mandate from farmers shareholders for the proposed sale of its consumer and related businesses to Lactalis for $3.8 billion.
Fonterra chief executive Miles Hurrell says the sale of the co-op’s consumer and associated businesses to Lactalis represents a great outcome for the co-op.
The world’s largest milk company Lactalis has won the bid for Fonterra’s global consumer and associated businesses.
Fonterra has increased its 2024/25 forecast Farmgate Milk Price from $10/kgMS to $10.15/kgMS.
It took a stint at university to remind Otago dairy farmer Megan Morrison that being stuck in a classroom was not for her.
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