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


Strengthening NZ dollar affects wool values

Strengthening NZ dollar affects wool values
New Zealand Wool Services International Ltd reports that prices at today’s wool auctions, the final sales for 2008, fared better than expected, considering the strengthening New Zealand dollar and difficult trading conditions.

Since the previous sale on 11 December, the New Zealand dollar has risen 8.8 per cent against the US dollar.

According to New Zealand Wool Services International, in the combined auction of 24,000 bales of North and South Island wool in Napier and Christchurch, the relatively large amount of wool on offer in a difficult trading period, saw most types fare better than was anticipated, with prices in overseas clients’ terms generally remaining firm or strengthening, except for the Euro prices.

There was also considerable price differences between the two selling centres due mainly to the volumes offered, with greater volume but lower price levels in the North Island than in the South.

On a combined basis, mid micron fleece 25 to 29.5 microns were three to eight per cent cheaper and 29.5 to 31.5 microns up to 1.5 per cent cheaper.

Fine crossbreds and hogget wools were between one and three per cent cheaper for 32 to 34 micron with the coarser types three to 4.5 per cent cheaper.

Good style coarse crossbred fleece and shears were 1.5 to 3.5 per cent cheaper with the poor styles six to eight per cent cheaper.

First lambs resisted the trend by only easing one to two per cent.

Oddments were generally two to four per cent cheaper.

Main competition was from Australasian carpet mills, China and India, supported by the Middle East and Western Europe.

The first wool sale for 2009 will be a combined sale of North and South Island wool on 8 January, in Napier and Christchurch, offering approximately 17,000 bales and 8,600 bales respectively.

New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at The full report is available by negotiation with the company.


Attached table

Please find attached tables covering indicators and prices for key wool types from this week's sale.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Auckland Airport: North American Touch Downs Make AA Most Connected In Australasia
The return of American Airlines, the world’s largest airline, announced today has cemented Auckland Airport’s title as the Australasian airport with the most non-stop connections to the United States and Canada... More>>

Reserve Bank: Monetary Conditions Tighten By More And Sooner

The Monetary Policy Committee today increased the Official Cash Rate (OCR) to 2.0 percent. The Committee agreed it remains appropriate to continue to tighten monetary conditions at pace to maintain price stability... More>>

The Download Weekly: Vodafone FibreX back in court

Vodafone and the Commerce Commission head back to court over FibreX in a week the TCF issues broadband marketing codes that should avoid similar problems in the future... More>>

Kiwibank: Savers To Benefit From Higher Returns Following OCR Rise

Following market movements Kiwibank is pleased to increase the interest rate and rates of return on its savings accounts... More>>

Fonterra: Provides 2022/23 Opening Forecast Farmgate Milk Price & Business Performance Update
Fonterra today announced its 2022/23 opening forecast Farmgate Milk Price and provided an update on its third-quarter performance... More>>

Stats: Quiet Start For Retail In 2022
The volume of retail sales was relatively unchanged in the March 2022 quarter, following a strong increase in the December 2021 quarter, Stats NZ said today... More>>