Thursday, 22 October 2015 16:54

Wool continues to soften

Written by 

New Zealand Wool Services International Limited's marketing executive, Malcolm Ching, reports that wool prices have continued to decline.

This is despite a slightly easier New Zealand dollar compared to the last sale on 15 October.

The weighted indicator for the main trading currencies came down 0.85 percent. Of the 8,290 bales on offer, 70% sold.

Ching advises that the tightening of the Chinese economy is restricting new business with exporters covering for old orders only, with quota issues restricting concluding new contracts.

Compared to 8th October sale;

Merino Fleece 17 to 18.5 and 22 to 23.5 microns eased 2 to 6% with pressure on 19 to 19.5 microns increasing levels by 4%.

Mid Micron wools were neglected with 24 to 29.5 microns reducing by 8 to 9%.

Compared to 15th October sale;

Fine Crossbred Fleece 31 to 32 microns were 11 to 13% cheaper.

Fine Crossbred Shears 32 to 35 microns were down 1.5 to 3.5%.

Full Fleece coarser than 36 microns were nominally up to 1% easier.

Coarse Shears were 1.5 to 2% down.

Short oddments were 3 to 5% cheaper.

Limited competition with old orders for China dominating the finer wools and Australasia supporting the coarser sector. Limited support from Western Europe, Middle East, United Kingdom and India.

Next sale on 29October comprises of approximately 5,100 bales from the North Island.

More like this

Championing wool to the world

Telling the story of wool is one of the keys to its resurgence as the global fibre of choice, according to NZ grower owned company Wools of New Zealand.

Shearing and wool courses

New ‘micro-credentials’ in wool harvesting will help meet a critical need to train shearers and wool handlers, claims Primary ITO chief executive Linda Sissons.

$2b pay off in fine wool shift – NZM

Shifting half of New Zealand’s crossbred wool clip to higher value fine wool contracts could boost the economy by about $2 billion, says NZ Merino Company (NZM) chief executive John Brakenridge.

» The RNG Weather Report

Featured

Soil moisture: no more looking over the fence

Farm manager Bryan Mitchell describes as brilliant the SCADAfarm systems that allow him to remotely monitor and manage the irrigation of his 300ha of leased grazing land near Kirwee.

 

Separation gives constant result

Effluent separation offers a number of unique advantages, and opportunities that other systems don’t offer, says farm equipment manufacturer Rakaia Engineering Ltd (REL) Group.

Cultivating the right way

Cultivation of paddocks is common on farms at this time of year. It’s also a time when local storms may occur, adding substantial risk to an important farming practice.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Job hunting?

A mate of the Hound reckons outgoing special agricultural trade envoy Mike Petersen, who is due to finish his current…

Hot air?

With the Government wanting to implement huge costs on the livestock farming sector by making New Zealand the only country…

Popular Reads

Fonterra lifts milk price

Good news for Fonterra farmers – the co-op is increasing its 2019-20 forecast farmgate milk price by 30c/kgMS.

Rural Life

Collaboration increases capability

Initially designed to assist fertiliser spreading trucks operating on steep New Zealand hill country, TracMap’s GPS guidance and job management…