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


Softening dollar gives impetus to local wool price

Softening dollar gives impetus to local wool prices

New Zealand Wool Services International Ltd reports that prices at today¹s wool sales rose at levels that correspond to the drop in the New Zealand dollar over the past week.

In the combined auction of 19,900 bales of North and South Island wool in Napier and Christchurch, prices in most classes increased.

Since the previous wool sale on 28 February the New Zealand dollar has fallen between one and two per cent, compared to main trading currencies.

Better style fleece wools generally held very firm, continuing their strength as seasonal volumes diminish. A larger offering of average style fleece wools benefited the most, increasing between 1.5 and three per cent.

According to New Zealand Wool Services International, prices for poor style fleece in the South Island remained solid. However, against the prevailing trend in other classes, heavily faulted wools in the North Island were discounted one per cent.

Early shorn and second shear wools were subject to strong competition, with prices lifting between one and three per cent.

Lambs¹ wools strengthened up to 1.5 per cent. All oddments increased by between two and four per cent.

The next North and South Island wool auctions will be held on Thursday 13 March, comprising 6,000 bales in Christchurch and 8,250 bales in Napier.

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


© Scoop Media

Business Headlines | Sci-Tech Headlines


Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>


Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>


Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>