Friday, 16 October 2015 12:51

Strong dollar and slow market lowers wool prices

Written by 

NZ Wool Services International Limited's CEO John Dawson says the strengthening dollar and low overseas interest saw most types ease for the 5,100 bales of North Island wool on offer this week.

The weighted currency indicator compared to the last sale on the 8th of October firmed 2.27%, having an easing effect on local wool prices with 82% selling.

Very limited activity from the usually dominant Chinese market saw their usual types incur significant reductions, however continued covering from past sales for the Australasian carpet market resulted in steadier prices for this sector on limited supply.

Dawson advises, Finer Crossbred full fleece were 13% to 17% cheaper with the coarser end 3% easier.

Fine Crossbred shears ranged from 1% to 3% cheaper in local terms with the very short types fairing the best.

Full length Coarse Crossbred wools were 2% to 3% cheaper with shears firm to 1% easier.

Short Oddments received limited attention, reducing up to 10%.

Limited competition with most activity covering old sales to China and Australasia with limited interest from Western Europe, Middle East, United Kingdom and India.

Next sale on 22nd October comprises approximately 7,950 bales from the South island.

More like this

Meat sector takeover of wool?

A meat industry-dominated group has formed to carry out the recommendations of the Wool Industry Project Action Group report and is ready to lead that change.

Wool outfits to combine

Two wool companies, that handle around one-third of NZ’s strong wool clip between them, are looking to join together in an effort to rejuvenate the country’s struggling wool sector.

A glimmer of hope for NZ strong wool?

A Lincoln-based wool products company believes it offers a glimmer of hope against the increasing negativity currently saturating New Zealand’s strong wool industry.

Featured

Longest running ag field days all go

The South Island Agricultural Field Days, held in Kirwee on the outskirts of Christchurch, will celebrate its 70th year in March 2021 with a bigger demonstration area.

 

New Feds man keen to build

New Feds board member, William Beetham wants the organisation recognised for its significant contributions to NZ farming and society as a whole.

» Latest Print Issues Online

The Hound

Bully boys?

OPINION: This old mutt hears that there is some discontent in the wool sector at the tactics being used by the…

Tacky!

OPINION: Your canine crusader, like many in the rural sector, was deeply distressed to hear the tragic news that a…

» eNewsletter

Subscribe to our weekly newsletter