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

 

Strengthening NZ dollar affects wool values

Strengthening NZ dollar affects wool values
New Zealand Wool Services International Ltd reports that prices at today’s wool auctions, the final sales for 2008, fared better than expected, considering the strengthening New Zealand dollar and difficult trading conditions.

Since the previous sale on 11 December, the New Zealand dollar has risen 8.8 per cent against the US dollar.

According to New Zealand Wool Services International, in the combined auction of 24,000 bales of North and South Island wool in Napier and Christchurch, the relatively large amount of wool on offer in a difficult trading period, saw most types fare better than was anticipated, with prices in overseas clients’ terms generally remaining firm or strengthening, except for the Euro prices.

There was also considerable price differences between the two selling centres due mainly to the volumes offered, with greater volume but lower price levels in the North Island than in the South.

On a combined basis, mid micron fleece 25 to 29.5 microns were three to eight per cent cheaper and 29.5 to 31.5 microns up to 1.5 per cent cheaper.

Fine crossbreds and hogget wools were between one and three per cent cheaper for 32 to 34 micron with the coarser types three to 4.5 per cent cheaper.

Good style coarse crossbred fleece and shears were 1.5 to 3.5 per cent cheaper with the poor styles six to eight per cent cheaper.

First lambs resisted the trend by only easing one to two per cent.

Oddments were generally two to four per cent cheaper.

Main competition was from Australasian carpet mills, China and India, supported by the Middle East and Western Europe.

The first wool sale for 2009 will be a combined sale of North and South Island wool on 8 January, in Napier and Christchurch, offering approximately 17,000 bales and 8,600 bales respectively.

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


Attached table

Please find attached tables covering indicators and prices for key wool types from this week's sale.

SI_Sale_18.12.08.xls

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>

ALSO:

Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>

ALSO:

Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>

ALSO:

Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>

ALSO:

New Report: Waitākere Kauri - Look After It, Or Lose It

With no cure for kauri dieback disease and treatment options still being trialled, the Auckland region faces a very real threat – take urgent action in the Waitākere Ranges or risk losing kauri from our forests altogether. More>>

ALSO: