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

Flock House and its secrets

Plans are in place to celebrate the 100th anniversary of the legendary Flock House opening its doors for the first time.

Wool campaign making strides

A group set up to boost education and promotion of wool says it has made positive strides during the first year of its three-year strategy.

On a mission to add value to wool

While wool returns continue in the doldrums, smart sheep farmers are looking for alternatives for a product that currently cost more to get off a sheep's back than it's worth. One such initiative is run by husband and wife team Hayden and Anastasia Tristram who farm at Wanstead in the Central Hawke's Bay. Mark Daniel reports.

Wool petition hits Parliament

South Canterbury farmer Angela Blair has delivered a petition to Parliament calling on the Government to reverse its decision to fit rural schools with synthetic carpet.

Featured

Donated tractors welcome news

When Cyclone Gabrielle hit in February 2023, it left an estimated $13.5 billion worth of damage across New Zealand.

More choice with new distribution deal

Having taken over from the previous distributor, who represented the brand for two decades, Landini New Zealand marks the beginning of a new distribution deal with Norwood, with a first look at Fieldays.

» Latest Print Issues Online

The Hound

Thanks Chuck!

OPINION: After six years of being passed over for every Arts luvvie in the Queen’s Birthday Honours, agriculture has finally…

Not biased

OPINION: Reactions to Budgets are always predictable, following well-worn tracks laid down by political tribalism and ideology.

» eNewsletter

Subscribe to our weekly newsletter