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

 

Currency basket softens prices in N Is wool sale

Currency basket softens prices in North Island wool sale


New Zealand Wool Services International Ltd reports that today’s auction of 17,000 bales off North Island wool, in Napier, saw prices correcting slightly, easing off the previous two week’s supply driven gains.

A one to two per cent rise in the value of the New Zealand dollar against the Euro, Sterling and Australian dollar overshadowed the 0.4 per cent fall of the currency against the United States dollar since the previous wool sale last week, influencing prices down.

According to New Zealand Wool Services International fine hogget wools also felt the additional impact of higher seasonal flows and eased between 1.5 and four per cent.

Coarse carpet fleece types of all descriptions absorbed the currency factor, softening between one to two per cent, with oddments following suit.

Next week’s South Island sale will be held in Christchurch on 13 December, consisting of 11,700 bales.

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

 

Media Mega Merger: StuffMe Hearing Argues Over Moveable Feast

New Zealand's two largest news publishers are appealing against the Commerce Commission's rejection of the proposal to merge their operations. More>>

Elsewhere:


Approval: Northern Corridor Decision Released

The approval gives the green light to construction of the last link of Auckland’s Western Ring Route, providing an alternative route from South Auckland to the North Shore. More>>

ALSO:


Crown Accounts: $4.1 Billion Surplus

The New Zealand Government has achieved its third fiscal surplus in a row with the Crown accounts for the year ended 30 June 2017 showing an OBEGAL surplus of $4.1 billion, $2.2 billion stronger than last year, Finance Minister Steven Joyce says. More>>

ALSO:

Mycoplasma Bovis: One New Property Tests Positive

The newly identified property... was already under a Restricted Place notice under the Biosecurity Act. More>>

Accounting Scandal: Suspension Of Fuji Xerox From All-Of-Government Contract

General Manager of New Zealand Government Procurement John Ivil says, “FXNZ has been formally suspended from the Print Technology and Associated Services (PTAS) contract and terminated from the Office Supplies contract.” More>>