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


Continued Pressure on Wool

Continued Pressure on Wool

New Zealand Wool Services International Limited’s Marketing Executive, Mr Paul Steel reports that the weakening New Zealand dollar coupled with exporter pressure to meet shipping requirements and limited supply continues to underpin the market.

The weighted indicator for the main trading currencies came down 2.14 percent compared to the last sale on 28th May.

Of the 6,876 bales on offer, 94 percent sold.

Mr Steel advises that resurgent interest from China saw Mid Micron fleece 24.5 to 31.5 micron increase 6 to 12 percent with Fine Crossbred Fleece 33 to 35 micron 1.5 to 5 percent dearer against the last time offered on 21st May.

Compared to last week’s North Island offering on the 28th May, Fine Crossbred Shears were 2 to 6 percent stronger. Good colour Coarse Crossbred Fleece were up to 1.5 percent firmer, average style eased slightly with poor colour firm.

Coarse Shears were firm to 3 percent dearer.

First Lambs Fleece received very strong support, lifting 6 to 8 percent.

Long Oddments were nominally 3 percent cheaper with good colour short oddments 6 percent dearer and poor colour 2 to 3 percent firmer.

Well spread competition with China dominating, supported by Australasia, Middle East and Western Europe.

Next sale on 11th June comprises approximately 9,100 bales from the North Island.

Due to insufficient wool coming forward and no stock wools on hand in brokers stores, the rostered South Island sale on 18th June has been cancelled.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Government: Delivering Lower Card Fees To Business

Commerce and Consumer Affairs Minister David Clark has today announced the Government’s next steps to reduce merchant service fees, that banks charge businesses when customers use a credit or debit card to pay, which is estimated to save New Zealand businesses ... More>>

SEEK NZ Employment Report: April 2021

OVERVIEW OF APRIL 2021: STATE OF THE NATION: April, for the second consecutive month, saw the highest number of jobs ever advertised on Applications per job ad fell 9% month-on-month (m/m). SEEK job ads were up by 12% m/m. SEEK job ads were ... More>>

Commerce Commission: Warns Genesis Over Business Billing Errors

The Commerce Commission has issued a warning to Genesis Energy Limited about billing errors concerning electricity line charges to business customers. Genesis reported the errors to the Commission. The Commission considers that Genesis is likely to ... More>>

Stats: Lower Job Security Linked To Lower Life Satisfaction

People who feel their employment is insecure are more likely than other employed people to rate their overall life satisfaction poorly, Stats NZ said today. New survey data from the March 2021 quarter shows that 26 percent of employed people who thought ... More>>

The Conversation: The Outlook For Coral Reefs Remains Grim Unless We Cut Emissions Fast — New Research

A study of 183 coral reefs worldwide quantified the impacts of ocean warming and acidification on reef growth rates. Even under the lowest emissions scenarios, the future of reefs is not bright. More>>

The Conversation: Why Now Would Be A Good Time For The Reserve Bank Of New Zealand To Publish Stress Test Results For Individual Banks

Set against the backdrop of an economy healing from 2020’s annus horribilis , this week’s Financial Stability Report (FSR) from the Reserve Bank (RBNZ) was cautiously reassuring: the country’s financial system is sound, though vulnerabilities remain. More>>