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

 


Strong North Island Wool Sale

Strong North Island Wool Sale

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that a stronger New Zealand dollar had little effect in dampening prices as exporters bought to cover close in contractual obligations. Recent poor weather and reduced wool supplies contributed to the strong demand.

The 9,800 bales comprised mainly woollen types 3/4 inch and shorter and saw a clearance level of 96 percent.

The weighted indicator for the main currencies compared to the last sale on the 5th June was up 2.23 percent.

Compared with the similar offering in Napier on the 29th May, second shear all styles 3/4 inch and shorter and related oddments were up to 3 percent dearer. These categories made up 80 percent of the offering.

Longer wools all styles compared with last week’s South Island sale were generally unchanged.

China supported by India, Western Europe and Australasian carpet mills were the principal buyers.

Next week’s South Island sale has been cancelled. The next sales, the final sales for the 2013/14 season will be held in both the North and South Island on the 26th June, rostered for 10,500 and 14,000 bales respectively.

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