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

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.

Wool-less Wiltshires prove popular

A seemingly never-ending plunge in strong wool prices is proving to be a boon for a sheep breed that doesn’t produce the increasingly worthless fibre – the Wiltshire.

» 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