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

Hype or Holy Grail?

Merino farmers need to be sure of their evidence if they are to embrace a regenerative agriculture label, says Lincoln University Professor Jon Hickford.

Fat chance!

Your old mate reckons that the chances of the strong wool sector being revived by the latest iteration of so-called sector saviour group SWAG is about as likely as Donald Trump being remembered as the greatest US president ever.

Wool group raises $500k

A new group established to revise the fortunes of New Zealand’s struggling strong wool sector says it has already raised more than $500,000 and is starting to roll out its work programme.

Carpet maker's blast from the past

Following its announcement earlier this year of quitting synthetics and only using 100% NZ wool, carpet manufacturer Cavalier Bremworth has now also changed its name.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Blue murder

OPINION: Your old mate recently read an off-the-wall suggestion, by some boffin, that deliberately staining meat blue will lead to…

Foot in mouth - again!

OPINION: This old mutt reckons Agriculture Minister Damien O'Connor too often suffers from 'foot in mouth' disease.

» eNewsletter

Subscribe to our weekly newsletter