Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Napier Wool Sale Remains Strong

 
Napier Wool Sale Remains Strong

 
NZ Wool Services International reports that 9,800 bales on offer in Napier this week attracted strong support from major players.

With the NZ dollar over 1.3% stronger to the US dollar than last week’s auction, only longer hogget fleece and better-colour coarse ewe wools succumbed to this pressure and eased between 1.5% and 2.5%.

As the sale progressed the NZ dollar weakened from its three-month high and prices firmed locally.

WSI advises that early shorn and second shear wools generally remained firm.  All oddments came under pressure, reflecting an oversold position after recent Indian and European buying interest and were 1.5% to 3.5% dearer.

The continued volatility and uncertainty surrounding the NZ dollar, coupled with current low seasonal wool flows, look set to keep prices around present levels in the short term.
The next wool auction on 22nd November comprises approximately 12,500 bales in Napier and 15,000 bales in Christchurch.

New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at http://www.nzwsi.co.nz. The full report is available by negotiation with the company.
 

-ENDS-

 

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Half A Billion Accounts: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>

Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>

ALSO:

Half Full: Fonterra Raises Forecast Payout As Global Supply Shrinks

Fonterra Cooperative Group, the dairy processor which will announce annual earnings tomorrow, hiked its forecast payout to farmers by 50 cents per kilogram of milk solids as global supply continues to decline, helping prop up dairy prices. More>>

ALSO:

Results:

Meat Trade: Silver Fern Farms Gets Green Light For Shanghai Maling Deal

The government has given the green light for China's Shanghai Maling Aquarius to acquire half of Silver Fern Farms, New Zealand's biggest meat company, with ministers satisfied it will deliver "substantial and identifiable benefit". More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news