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

 

Scoop Business: PayPal Stops Processing Mega Payments; NZX Listing Still On

PayPal has ceased processing payments for Mega, the file storage and encryption firm looking to join the New Zealand stock market via a reverse listing of TRS Investments, amid claims it is not a legitimate cloud storage service. More>>

ALSO:

Housing Policy: Auckland Densification As Popular As Ebola, English Says

Finance Minister Bill English said calls by the Reserve Bank Governor for more densification in Auckland’s housing were “about as popular in parts of Auckland as Ebola” would be. More>>

ALSO:

Crown Accounts: NZ Government Deficit Smaller Than Expected In First Half

The New Zealand government's operating deficit was smaller than expected in the first six months of the financial year, as the consumption and corporate tax take rose ahead of forecast in December, having lagged estimates in previous months. More>>

ALSO:

Fruit & Veg Crackdown: Auckland Fruit Fly Find Under Investigation

The Ministry for Primary Industries (MPI) is investigating a find of a single male Queensland fruit fly in a surveillance trap in the Auckland suburb of Grey Lynn... MPI has placed legal controls on the movement of fruit and some vegetables outside of a defined circular area which extends 1.5km from where the fly was trapped in Grey Lynn. More>>

ALSO:

Scoop Business: Westpac NZ Reaches $2.97M Swaps Settlement

Westpac Banking Corp’s New Zealand unit has agreed to pay $2.97 million in a settlement with the Commerce Commission over the way the bank sold interest rate swaps to farmers between 2005 and 2012. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news