Friday, 24 June 2016 14:55

Low orders, strong dollar soften wool market

Written by 
The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease. The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.

The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.

New Zealand Wool Services marketing executive, Malcolm Ching says of the 12,180 bales on offer from the predominantly short second shear wools in the North Island, 77% sold.

The weighted currency indicator compared to the previous weeks' auction lifted 0.65%.

Ching advises that compared to the similar offering of North Island wools on June 9:

Fine crossbred shears were 2 to 4% cheaper.

Coarse crossbred full fleece were firm to 3.5% easier.

Coarse shears were down 3 to 6% with the shorter types affected the most.

Short first lambs were 2 to 4% softer.

Coarse short oddments were 2.5 to 5.5% cheaper.

There was limited interest with Australasia, Western Europe, United Kingdom principals, supported by India, Middle East and China.

The news sale on June 30 comprises about 11,300 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.

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

Horticulture exports hit $8.4B, surge toward $10B by 2029

A brilliant result and great news for growers and regional economies. That's how horticulture sector leaders are describing the news that sector exports for the year ended June 30 will reach $8.4 billion - an increase of 19% on last year and is forecast to hit close to $10 billion in 2029.

» Latest Print Issues Online

The Hound

Be afraid

OPINION: Your old mate hears some of the recent uptick in farmer confidence has slipped since the political polls started…

Trust us!

OPINION: Ther'es a reason politicians rank even lower than John Campbell in the most trusted profession surveys.

» eNewsletter

Subscribe to our weekly newsletter