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

An ode to the ‘beloved’ sheep yards

When 14-year-old Lincoln High School student Rosa Macaulay was asked to write story about her favourite room, instead of choosing her bedroom like most 14-year-old girls, she chose her grandfather’s sheep yards. 

Back the sector that backs NZ

OPINION: The biggest issue currently facing our industry is environmental policy, writes Beef+Lamb NZ chief executive Sam McIvor.

Meat quota rates remain vital

A jump in the value and volume of New Zealand’s sheepmeat exports to Europe and the UK shows why preserving WTO tariff-rate quotas is so important, claims the Meat Industry Association (MIA).

Lamb price down, but not weak

While lamb prices are starting the new season at around 16% below last year’s levels, they are not outright weak, according to the BNZ.

Featured

 

An exercise in futility

Former Fonterra Shareholders Council (SHC) chair and Waipu farmer Simon Couper puts his views on why the recent review of the council’s functions was a futile exercise.

Top student off to co-op

Massey University's top agricultural student for 2020 is off to join Fonterra and continue his interest and passion for the dairy industry.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

He's back!

OPINION: This old mutt understands that former Fonterra chief executive Theo Spierings has landed himself a new gig back in his…

Utu?

OPINION: Your canine crusader understands that the farmer’s favourite politician – Environment Minister David Parker – not content with implementing…

» eNewsletter

Subscribe to our weekly newsletter