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


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>>


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>>


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>>


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>>


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>>


Get More From Scoop

Computer Power Plus
Search Scoop  
Powered by Vodafone
NZ independent news