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


Wool Correction Continues

Wool Correction Continues

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that wool prices at the North Island sale comprising 6,200 bales saw most types continue to weaken with a wider price range relativity developing between the better and poorer styles.

There was a 66 percent clearance with some growers unwilling to accept the sharp declines in some categories.

The weighted indicator for the main trading currencies lifted by 0.67 percent as the NZ dollar generally strengthened compared to the last sale on 5th December.

Mr Steel advises that Crossbred Fleece finer than 34 microns were 1 to 2 percent cheaper. Longer fine shears received strongest support, lifting by 1 to 2 percent with shorter types easing 4 to 6 percent.

Crossbred Fleece 35 micron and coarser saw good styles 5 to 8 percent weaker with significant discounts of 10 to 17 percent for poorer styles as volumes of this type become readily available. Coarse shears weakened 5 to 9 percent with shorter types affected the least.

Combing Oddments were 6 to 9 percent cheaper with short oddments 4 to 12 percent easier.

Limited competition with most markets inactive currently. Current purchasing is for older contracts requiring shipment prior to the Christmas break.

Next sale on 19th December comprises approximately 7,200 bales from the North Island and 7,500 bales from the South Island.


© Scoop Media

Business Headlines | Sci-Tech Headlines


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>>


Houses (& Tobacco) Lead Inflation: CPI Up 0.3% In March Quarter

The consumers price index (CPI) rose 0.3 percent in the March 2014 quarter, Statistics New Zealand said today. Higher tobacco and housing prices were partly countered by seasonally cheaper international air fares, vegetables, and package holidays. More>>


Notoriously Reliable Predictions: Budget To Show Rise In Full-Time Income To 2018: English

This year’s Budget will forecast wage increases through to 2018 amounting to a $10,500 a year increase in average full time earnings over six years to $62,200 a year, says Finance Minister Bill English in a speech urging voters not to “put all of this at risk” by changing the government. More>>


Prices Up, Volume Down: March NZ House Sales Drop 10% As Loan Curbs Bite

New Zealand house sales dropped 10 percent in March from a year earlier as the Reserve Bank’s restrictions on low-equity mortgages continue to weigh on sales of cheaper property. More>>


Scoop Business: Chorus To Appeal Copper Pricing Judgment

Chorus will appeal a High Court ruling upholding the Commerce Commission’s determination setting the regulated prices on the telecommunications network operator’s copper lines. More>>



Cars: Precautionary Recalls Announced For Toyota Vehicles

Toyota advises that a number of its New Zealand vehicles are affected by a series of precautionary global recalls. Toyota New Zealand General Manager Customer Services Spencer Morris stressed that the recalls are precautionary. More>>


'Gardening Club': Air Freight Cartel Nets Almost $12 Million In Penalties

The High Court in Auckland has today ordered Swiss company Kuehne + Nagel International AG to pay a penalty of $3.1 million plus costs for breaches of the Commerce Act. Kuehne + Nagel’s penalty brings the total penalties ordered in this case to $11.95 million ... More>>


Crown Accounts: Revenue Below Projections

Core Crown tax revenue has increased by $1.9 billion (or 5.0%) compared to the same time last year. However this was $1.1 billion less than expected and is reflected across most tax types, continuing the pattern of recent months. More>>


Get More From Scoop

Computer Power Plus
Search Scoop  
Powered by Vodafone
NZ independent news