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

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.

Dispelling wool's myths

Paul Alston believes that when comparing wool and synthetic carpets, wool wins every time.

Keeping shearing sheds safe

With safety at the forefront of all farm activity, there is no better time than now to assess the safety in your shearing shed.

Featured

Good growth year for Claas

While many sectors of the agricultural machinery were hit by the ravages of Covid-19, the effects of the pandemic did not prevent the privately-owned Claas Group from enjoying a 3.7% increase in sales during 2020.

Green machine frugal on fuel

According to the industry respected independent DLG PowerMix test, John Deere appears to be the best choice of tractor for transport applications with its new 7R330 model.

 

App takes pressure off

TRS Tyre & Wheel, owned by Trelleborg Wheel Systems, has introduced the TLC Plus App to the New Zealand market.

New MF 5S series arrives

Just before Christmas, Massey Ferguson quietly released details of the successor to its popular MF 5700S range in the shape of the new 5S Series.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Seriously?

Your old mate reckons the nomination of the New Zealand Dairy Industry Awards (NZDIA) management team as a finalists in…

Good riddance!

The Hound reckons 2021 is off to a rollicking start with news that professional whinger and anti-farming drone Martin Taylor…

» eNewsletter

Subscribe to our weekly newsletter