Friday, 02 March 2012 10:01

Wool market strengthens

Written by 

A South Island offering of 8400 bales saw a generally firmer market this week and an 89% clearance rate, says New Zealand Wool Services International Ltd's marketing executive, Malcolm Ching.

The weighted indicator for the main trading currencies strengthened slightly by 0.39% compared to the last sale on February 23, having minimal impact.

Ching says a rise in customer activity in recent days has seen a previous flat market steady with some sectors showing strong activity, although there are wool types that are still struggling for support.

Fine crossbred fleece and shears were firm to 2.5% stronger with steady Chinese interest. Coarse full Fleece was well supported with levels remaining firm to 3% stronger. Longer shears, which were pressured last sale, eased back by up to 2%. Shorter shears were firm to 3% dearer. Fine Lambs fleece eased slightly with the longer coarser types firm to 3% stronger.

All oddments were 1.5 to 4% dearer. Well spread competition with China, Western Europe and India principals supported by Australasia, Middle East and United Kingdom.

The next sale on March 8 comprises about 17,700 bales from the North Island and 8600 bales from the South Island.

More like this

NZ wine grapples with oversupply despite export gains

The large 2025 harvest will exacerbate the wine industry's "lingering" supply from recent vintages, New Zealand Winegrowers Chief Executive Philip Gregan told attendees at Grape Days events around the country in June.

Featured

Rural contractors call for overhaul of ag vehicle rules

Following a recent overweight incursion that saw a Mid-Canterbury contractor cop a $12,150 fine, the rural contracting industry is calling time on what they consider to be outdated and unworkable regulations regarding weight and dimensions that they say are impeding their businesses.

NZ seeks certainty on US tariff, says McClay

Trade Minister Todd McClay says his officials plan to meet their US counterparts every month from now on to better understand how the 15% tariff issue there will play out, and try and get some certainty there for our exporters about the future.

National

Machinery & Products

» Latest Print Issues Online

The Hound

A step too far

OPINION: For years, the ironically named Dr Mike Joy has used his position at Victoria University to wage an activist-style…

Save us from SAFE

OPINION: A mate of yours truly has had an absolute gutsful of the activist group SAFE.

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter