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

 


Wool Continues To Ease

Wool Continues To Ease

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the 19,700 bales on offer from this week’s combined North and South Island auction saw an 80 percent clearance with generally lower price levels for most categories.

The weighted indicator for the main trading currencies weakened 0.96 percent compared to the last sale on 24th January however this favourable factor had limited impact on local prices.

Mr Dawson advises that Mid Micron Fleece were firm to 4 percent cheaper.

Fine Crossbred Fleece and longer shears 32 to 35 micron were generally 2 to 4 percent cheaper with the shorter types 1.5 to 3.5 percent easier.

Coarse Crossbred Fleece were 2.5 to 6 percent weaker with the coarser, poorer styles affected the most.

Coarse Shears were generally 2 to 6 percent cheaper except a small offering of the shorter types in the South Island which were between firm and 4.5 percent stronger.

First Lambs were 2 to 4 percent cheaper. Longer Coarse Oddments were generally unchanged overall with the shorter types generally 3 to 5 percent easier.

Overall it was a mixed market with targeted buying between types and selling centres with local shipping requirements playing a major role. Chinese buying will slow now as businesses start closing for the Chinese New Year celebration.

Limited competition with China principal supported by Australasia, Middle East, India, Western Europe and the United Kingdom.

Next sale on 8th February comprises approximately 8,100 bales from the North Island and 6,200 bales from the South Island.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Must Sell 20 Petrol Stations: Z Cleared To Buy Caltex Assets

Z Energy is allowed to buy the Caltex and Challenge! petrol station chains but must sell 19 of its retail sites and one truck-stop, the Commerce Commission has ruled in a split decision that acknowledges possible retail price coordination between fuel retailers occurs in some regions. More>>

ALSO:

Huntly: Genesis Extends Life Of Coal-Fuelled Power Station To 2022

Genesis Energy will keep its two coal and gas-fired units at Huntly Power Station operating until 2022, having previously said they'd be closed by 2018, after wringing a high price from other electricity generators who wanted to keep them as back-up. More>>

ALSO:

Dammed If You Do: Ruataniwha Irrigation Scheme Hits Farmer Uptake Targets

Enough Hawke's Bay farmers have signed up for water from the proposed Ruataniwha Water Storage Scheme for it to go ahead as long as a cornerstone institutional capital investor can be found to back it, its regional council promoter announced. More>>

ALSO:

Reserve Bank: OCR Stays At 2.25%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2.25 percent, in a decision traders had said could go either way, while predicting inflation will pick up as the slump in oil prices washes out of the data and capacity pressures start to build in the economy. More>>

ALSO:

Export Values Down: NZ Posts Biggest Annual Trade Deficit In 7 Years

New Zealand has recorded its biggest annual trade deficit since April 2009, reflecting weaker prices of agricultural commodities such as dairy products, beef and lamb, and increased imports of vehicles and machinery. More>>

ALSO:

Currency Events: NZ's New $5 Note Wins International Banknote Award

New Zealand’s new Brighter Money $5 note has been named Banknote of the Year in a prestigious international competition. The $5 note was awarded the IBNS Banknote of the Year title at the International Bank Note Society’s annual meeting. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news