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


Wool Remains Firm

Wool Remains Firm

New Zealand Wool Services International Ltd’s General Manger Mr John Dawson reports that the South Island auction this week comprising 6,100 bales saw an 86 percent clearance and a generally solid market overall.

The weighted currency indicator eased 0.17 percent compared to the last sale on 7th August having no real impact.

Mr Dawson advises that limited wool volumes and an oversold market are pressuring exporters who are committed to shipments, to strongly compete for the wools available. There were fluctuations in some sectors, but with underlying firm support.

Finer mid micron fleece were firm to 2 percent cheaper with poorer styles affected the most. Coarser mid micron fleece remained firm.

Fine crossbred fleece and shears were well supported with continuing Chinese interest, remaining firm to 3 percent dearer.

Coarse crossbred full fleece good and average style remained firm, with poorer styles firm to 1.5 percent easier.

Long coarse shears were generally firm, with 3 to 4 inch wools 1 to 2 percent cheaper, 2 to 4 inches 3 to 5 percent easier and 2 to 3 inch wools firm.

All oddments remained unchanged.

Well spread support with China, Australasia and the Middle East principals, supported by India, Western Europe and the United Kingdom.

Next sale on 14th August comprises approximately 8,000 bales from the North Island.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Banks: Westpac Keeps Core Government Transactions Contract

The local arm of Westpac Banking Corp has kept its contract with the New Zealand government to provide core transactions, but will have to share peripheral services with its rivals. More>>


Science Investment Plan: Universities Welcome Statement

Universities New Zealand has welcomed the National Statement of Science Investment released by the Government today... this is a critical document as it sets out the Government’s ten-year strategic direction that will guide future investment in New Zealand’s science system. More>>


Scouring: Cavalier Merger Would Extract 'Monopoly Rents' - Godfrey Hirst

A merger of Cavalier Wool Holdings and New Zealand Wool Services International's two wool scouring operations would create a monopoly, says carpet maker Godfrey Hirst. The Commerce Commission on Friday released its second draft determination on the merger, maintaining its view that the public benefits would outweigh the loss of competition. More>>


Scoop Review Of Books: She Means Business

As Foreman says in her conclusion, this is a business book. It opens with a brief biographical section followed by a collection of interesting tips for entrepreneurs... More>>


Hourly Wage Gap Grows: Gender Pay Gap Still Fixed At Fourteen Percent

“The totally unchanged pay gap is a slap in the face for women, families and the economy,” says Coalition spokesperson, Angela McLeod. Even worse, Māori and Pacific women face an outrageous pay gap of 28% and 33% when compared with the pay packets of Pākehā men. More>>


Housing: English On Housing Affordability And The Economy

"Long lead times in the planning process tend to drive prices higher in the upswing of the housing cycle. And those lead times increase the risk that eight years later, when additional supply arrives, the demand shock that spurred the additional supply has reversed. The resulting excess supply could produce a price crash..." More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news