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

 

Weaker NZ Dollar Helps Wool Prices

Weaker NZ Dollar Helps Wool Prices

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel advises that a weaker New Zealand dollar compared to the last sale on 14th May, kept prices high despite a significant increase in the rostered quantity. Steady demand and exporters struggling to source enough wool to meet shipping requirements added extra strength to the market.

The weighted indicator for the main trading currencies eased 1.97 percent week on week.

Of the 9,733 bales on offer, 91.4 percent sold.

Mr Steel reports that Merino Fleece and Mid Micron wools were generally traded at below the current Australian market levels.

Fine Crossbred Full Fleece were 4 percent dearer with second shears 1 to 3 percent firmer.

Full length Coarse Crossbred Fleece, average style and better were 1 to 3 percent dearer with poorer styles easing 1 percent.

Coarse Shears ranged from firm to 4 percent dearer.

Lambs fleece lifted by 1 to 3 percent.

Long coarse oddments remained steady with short types 1 to 3 percent stronger.

Strong competition with Chinese requirements continuing to dominate supported by Australasia, India, Western Europe and the Middle East.

Next sale on 28th May comprises approximately 7,800 bales from the North Island.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Fuels Rushing In: Govt "Ready To Act" On Petrol Market Report

The Government will now take the Commerce Commission’s recommendations to Cabinet...
• A more transparent wholesale pricing regime • Greater contractual freedoms and fairer terms • Introducing an enforceable industry code of conduct • Improve transparency of premium grade fuel pricing... More>>

ALSO:

Reserve Bank Capital Review Decision: Increased Bank Capital Requirements

Governor Adrian Orr said the decisions to increase capital requirements are about making the banking system safer for all New Zealanders, and will ensure bank owners have a meaningful stake in their businesses. More>>

ALSO:

Aerospace: Christchurch Plan To Be NZ's Testbed

Christchurch aims to be at the centre of New Zealand’s burgeoning aerospace sector by 2025, according to the city’s aerospace strategic plan. More>>

ALSO:

EPA: Spill Sees Abatement Notice Served For Tamarind Taranaki

The notice was issued after a “sheen” on the sea surface was reported to regulators on Thursday 21 November, approximately 400 metres from the FPSO Umuroa. A survey commissioned by Tamarind has subsequently detected damage to the flowline connecting the Umuroa to the Tui 2H well. More>>

Taskforce Report: Changes Recommended For Winter Grazing

A Taskforce has made 11 recommendations to improve animal welfare in intensive winter grazing farm systems, the Minister of Agriculture Damien O’Connor confirmed today. More>>

ALSO: