Furore as Kāinga Ora rules out wool carpets
State housing provider, Kāinga Ora’s decision to rule out the use of wool carpets in social housing has been described as a slap in the face by sheep farmers.
The ongoing fallout from the Brexit result, continued minimal activity from China and a strong New Zealand dollar have compounded to make significant inroads into local wool values.
New Zealand Wool Services International chief executive John Dawson reports the weighted currency indicator compared to last sale lifted 0.66%, however against the GBP the New Zealand dollar strengthened a further 4.4% making a shift of over 13% since the Brexit announcement.
Market sentiment is bearish as many clients take a cautious approach during this unsettled period.
Of the 7500 bales on offer, only 54% sold as buyers become very selective, only covering immediate requirements.
Dawson advises that compared to last sale on June 30:
• Fine crossbred shears were 7 to 10% cheaper.
• A nominal selection of average style coarse full length fleece were 1 to 2% easier with poor style 9% cheaper.
• Coarse early shorn and second shears which made up 62% of the offering were 5.5 to 10% cheaper, with the shorter wools affected the most.
• Coarse Oddments were 3 to 7% easier.
Activity was restricted with exporters only covering requirements for prompt shipment mainly for Australasia and the Middle East, with limited activity for Western Europe, China and India.
Next sale on July 14 comprises about 5600 bales from the South Island, down on anticipated roster due to poor weather.
Construction is underway at Fonterra’s new UHT cream plant at Edendale, Southland following a groundbreaking ceremony recently.
The New Zealand Veterinary Association (NZVA) has launched a new summer checklist for animal owners this year.
The Amuri Basin Future Farming (ABFF) Project in North Canterbury is making considerable strides in improving irrigation efficiency, riparian management, and environmental innovation.
A Farmlands shareholder is questioning the rural trader’s decision to more than double its annual card fee.
The Brandt Hastings team, joined by Rudolph the Red-Nose Rein ‘Deere’, spread holiday cheer this week at the Hawke’s Bay Hospital children’s ward.
There's been a dramatic and larger than expected drop in the number of lambs produced in New Zealand.
OPINION: Before we all let The Green Party have at it with their 'bold' emissions reduction plan, the Hound thought…
OPINION: The Feds' latest banking survey shows that bankers are even less popular with farmers than they used to be,…