Low orders, strong dollar soften wool market
The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.
The rapid rise in the New Zealand dollar just prior to auction saw a lowering of local wool prices in many areas says New Zealand Wool Services International (NZWSI).
Marketing executive, Paul Steel says that of the 18,200 bales on offer 88.4% sold.
The weighted indicator for the main trading currencies was up 1.78% compared to the last sale on 12th March.
Steel says that Fine Crossbred Fleece and Shears ranged from firm to 5% dearer.
Coarse Crossbred Full Fleece were generally firm. Coarse Shears were firm to 2% cheaper.
First Lambs were firm to 1.5% cheaper overall.
Long Oddments were 2 to 7% easier with short types firm to 3% down.
There remains strong interest from China and Australasia with support from the Middle East, Western Europe, India, and the United Kingdom.
Next sale on 26th March comprises approximately 9,500 bales from the South Island.
More bull breeders are using genetic tools according to the latest research.
Females are dominating the veterinary profession worldwide and many farmers are welcoming this change in the composition of the profession, says Britain's Chief Veterinary Officer (CVO) Professor Christine Middlemiss.
A five-year randomised survey of herbicide resistance on New Zealand arable farms has found widespread high levels of resistance - with 71% of farms affected in the worst-hit region - South Canterbury.
OPINION: The recent Federated Farmers / Rabobank 2024 Farming Salaries Report revealed strong growth in farm salaries over the past two years.
The low unemployment environment is one of the key factors driving on-farm salaries higher over the past 24 months, says Rabobank general manager for country banking Bruce Weir.
Fonterra has appointed a new chief financial officer, seven months after its last CFO’s shock resignation.