Friday, 22 July 2016 14:36

Wool market steady

Written by 
The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling. The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling.

The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling.

New Zealand Wool Services International Ltd's chief executive, John Dawson reports the weakening NZ dollar across the board saw the weighted currency indicator fall 4.22%.

Despite these positive factors, local prices were still below last week's South Island auction, but only marginally under the last more comparative North Island selection.

Dawson reports that compared to the North Island sale on the July 7, fine crossbred shears ranged from 2% cheaper to 2% dearer. Coarse good colour full fleece were nominally firm with the average style 1 to 2% cheaper.

Coarse crossbred early shorn were 1% cheaper, longer shears firm to 1% dearer with shorter types firm to 2% easier.

Short oddment remained firm.

Limited interest with renewed activity from Western Europe adding a steadying influence, supported by Australasia and the United Kingdom, with India, Middle East and China sparingly.

The next sale on July 28 comprises about 7400 bales from the South Island.

More like this

Govt invests in wool

The Government says it is investing to create new product categories and new international markets for strong wool and is calling on Kiwi businesses and consumers to get behind the environmentally friendly fibre.

Pillow talk takes action

A call from her daughter prompted well-known Hawke's Bay wool broker and enthusiastic wool promoter Philippa Wright to set up a new venture - making wool pillows.

Aussie's loss is NZ's gain

In a twist on the usual formula, Australia fears a shortage of shearers in that country after New Zealand shearers return home once our borders reopen.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

No free ride!

OPINION: This old mutt is getting somewhat tired of multi-national, tax-dodging, fund-raising group Greenpeace always given front and centre mainstream…

How come?

OPINION: A mate of yours truly is questioning exactly why the Māori ag sector have been given special budget funding by…

» eNewsletter

Subscribe to our weekly newsletter