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.
Farmlands says that improved half-year results show that the co-op’s tight focus on supporting New Zealand’s farmers and growers is working.
Horticulture New Zealand (HortNZ) says that discovery of a male Oriental fruit fly on Auckland’s North Shore is a cause for concern for growers.
Fonterra says its earnings for the 2025 financial year are anticipated to be in the upper half of its previously forecast earnings range of 40-60 cents per share.
Beef + Lamb New Zealand (B+LNZ) is having another crack at increasing the fees of its chair and board members.
Livestock management tech company Nedap has launched Nedap New Zealand.
An innovative dairy effluent management system is being designed to help farmers improve on-farm effluent practices and reduce environmental impact.
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