Friday, 07 March 2014 09:50

Wool market continues to firm

Written by 

DESPITE A STRENGTHENING NZ dollar and a larger weekly offering of wool, the market was generally firm to dearer, says New Zealand Wool Services International Ltd's general manager, John Dawson.

Only lambs' fleece eased slightly and of the 20,000 bales on offer, 88% sold with growers not accepting current market levels for the balance.

Compared to the last South Island sale on February 27 the currency indicator was 1.15% higher but had minimal impact with demand and shipping requirements being the main market driver.

Dawson says fine crossbred fleece and shears were firm to 2% dearer. Coarse crossbred full fleece and shears were also firm to 2% dearer.

First lambs were firm to 2% cheaper. Oddments were firm to 2.5% stronger.
There was good competition with Australasia, Western Europe, United Kingdom and India principal, supported by China and the Middle East.

The next sale on March 13 comprises about 6600 bales from the South Island.

More like this

A big win for wool!

State-owned social housing provider Kainga Ora is switching to wool carpet for its new homes.

Featured

Synlait, Nestlé Expand Eco-Focused Dairy Partnership in NZ

A partnership between Canterbury milk processor Synlait and the world's largest food producer, Nestlé, has been celebrated with a visit to a North Canterbury farm by a group including senior staff from Synlait, the Ravensdown subsidiary EcoPond, and Nestlé's Switzerland head office.

National

Machinery & Products

Chinese Tractors Eye Western Europe

Having caused quite a stir at last year’s Agritechnica, Chinese manufacturer Zoomlion is reported to be conducting large-scale field trials…

Franz Grimme Turns 80

Franz Grimme recently celebrated his 80th birthday earlier March and continues to be an entrepreneur with passion and pioneering spirit,…

» Latest Print Issues Online

The Hound

What A Choice!

OPINION: If you ask this old mutt, the choice at the next election isn't shaping up as a contest of…

Your Call!

OPINION: A mate of yours says we're long overdue for a reckoning on what value farmers really get for the…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter