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

 


Demand Lifts Wool Prices

Demand Lifts Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the combined North and South Island first wool auction for 2013 resulted in a strong market based on recent increased buying interest particularly from China.

Of the 21,900 bales on offer, 90 percent of the offering sold. The weighted indicator for the main trading currency compared to the last sale on 19th December was practically unchanged, lifting only 0.05 percent and having no impact on prices.

Mr Dawson advises that the range of types available in each Island influenced the market pressure, backed up by client requirements for urgent shipment. The overall effect is that inter Island price variations have now largely been removed with most types having similar values at both selling centres. The higher volumes of Coarse Short Shears available were the only types to lose some ground.

Mid Micron remained firm.

Fine Crossbred Fleece and Shears increased 2.5 to 6 percent. Coarse Crossbred Fleece and longer Shears ranged from 1.5 percent to 8 percent dearer with the North Island lifting the most.

Short Coarse Shears were firm to 3.5 percent easier. Lambs Fleece were 3 to 5 percent dearer. Long oddments ranged from firm to 5 percent stronger. Short oddments were firm to 7 percent dearer.

Strong competition with China dominating supported by Western Europe, Middle East, India, United Kingdom and Australasia.

Next sale on 17th January comprises approximately 10,600 bales from the North Island and 6,200 bales from the South Island.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Interest Rates: Wheeler Hikes OCR To 3% On Inflationary Pressures, Eyes Kiwi

Reserve Bank governor Graeme Wheeler lifted the official cash rate for the second time in as many months, saying non-tradable inflationary pressures were "becoming apparent" in an economy that’s picking up pace and he's watching the impact of a strong kiwi dollar on import prices. More>>

ALSO:

Scoop Business: Equity Crowd Funding Carries Risks, High Failure Rate

Equity crowd funding, which became legal in New Zealand this month, comes with a high risk of failure based on figures showing existing forays into social capital have a success rate of less than 50 percent, one new entrant says. More>>

ALSO:

Scoop Business: NZ Migration Rises To 11-Year High In March

The country gained a seasonally adjusted 3,800 net new migrants in March, the most since February 2003, said Statistics New Zealand. A net 400 people left for Australia in March, down from 600 in February, according to seasonally adjusted figures. More>>

ALSO:

Hugh Pavletich: New Zealand’s Bubble Economy Is Vulnerable

The recent Forbes e-edition article by Jesse Colombo assesses the New Zealand economy “ 12 Reasons Why New Zealand's Economic Bubble Will End In Disaster ”, seems to have created quite a stir, creating extensive media coverage in New Zealand. More>>

ALSO:

Thursday Market Close: Genesis Debut Sparks Energy Rally

New Zealand stock rose after shares in the partially privatised Genesis Energy soared as much as 18 percent in its debut listing on the NZX, buoying other listed energy companies in the process. Meridian Energy, MightyRiverPower, Contact Energy and TrustPower paced gains. More>>

ALSO:

Power Outages, Roads Close: Easter Storm Moving Down Country

The NZ Transport Agency says storm conditions at the start of the Easter break are making driving hazardous in Auckland and Northland and it advises people extreme care is needed on the regions’ state highways and roads... More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news