Thursday, 07 June 2012 16:32

Wool prices strengthen

Written by 

THE WOOL SALE held in the South Island today (Thursday) comprised 10,334 bales of which 7, 587 reached market reserves or above, New Zealand Wool Services International Limited's general manager, John Dawson reports.

The weighted indicator for the main currencies was up 2.09% and 73.5% of the offering sold.

Increased demand coupled with continued grower resistance to further declining prices saw price levels resist the strong New Zealand dollar.

Compared to the North Island sale on May 31, 2012 Coarse Crossbred Fleece and Early Shorn types 3 to 5 inch and longer were 5% dearer. Coarse Crossbred Second Shears 2 to 4 inch and 3 to 4 inch were 4 % dearer. First Lambs were 1% dearer. Crossbred Oddments were 2% dearer.

A good spread of buyers was active including China, India, Western Europe and Australasia with support from United Kingdom and Middle East.

Compared to the last South Island sale on the May 24 prices were generally firm to buyers favour.

The next sale on June 14, 2012 comprises approximately 12,500 bales of North Island wool.

More like this

A big win for wool!

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

Editorial: Making wool great again

OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.

Featured

National

Machinery & Products

» Latest Print Issues Online

The Hound

Overbearing?

OPINION: Dust ups between rural media and PR types aren't unheard of but also aren't common, given part of the…

Foot-in-mouth

OPINION: The Hound hears from his canine pals in Southland that an individual's derogatory remarks on social media have left…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter