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

 


Wool Market Continues to Firm

Wool Market Continues to Firm


New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that despite a strengthening NZ dollar and a larger weekly offering of wool, the market was generally firm to dearer apart from Lambs Fleece which eased slightly.

Of the 20,000 bales on offer, 88 percent sold with growers not accepting current market levels for the balance.

Compared to the last South Island sale on 27th February the currency indicator was 1.15 percent higher but had minimal impact with demand and shipping requirements being the main market driver.

Mr Dawson advises that Fine Crossbred Fleece and Shears were firm to 2 percent dearer. Coarse Crossbred Full Fleece and Shears were also firm to 2 percent dearer.

First Lambs were firm to 2 percent cheaper. Oddments were firm to 2.5 percent stronger.

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

Next sale on 13th March comprises approximately 6,600 bales from the South Island.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Economic Update: RBNZ Says Rate Cut Seems Likely

The Reserve Bank will likely cut interest rates further as a persistently strong kiwi dollar makes it difficult for the bank to meet its inflation target, it said. The local currency fell. More>>

ALSO:

House Price Action Plan: RBNZ Signals National Lending Restrictions

The central bank wants to cap bank lending to property investors with a deposit of less than 40 percent at 5 percent and restore the 10 percent limit for owner-occupiers wanting to take out a mortgage with a deposit of less than 20 percent, according to a consultation paper released today. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news