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


Weaker New Zealand Dollar Helps Wool Prices

Weaker New Zealand Dollar Helps Wool Prices

New Zealand Wool Services International Limited’s General Manager, Mr John Dawson reports that the weakening New Zealand dollar helped local prices this week with most types increasing by the corresponding currency change.

The weighted indicator for the main trading currencies was down 2.04 percent compared to the last sale on 9th July.

Of the 7,900 bales on offer from the South Island, 88 percent sold with types suitable for in the grease shipments coming under strong competition.

Mr Dawson advises that compared to the South Island sale on 25th June, Mid Micron Fleece 24.5 to 27.5 microns were firm to 1.5 percent dearer with 28 and 29 microns not as sell supported, coming down 1 to 4 percent.

Compared to the last time offered at the North island sale on 9th July, Fine Crossbred Fleece remained firm with longer shear types up to 3 percent dearer. Coarse Crossbred Fleece were firm to 2 percent stronger.

Coarse Shears 3 to 5 inches were up 1 to 2 percent, 3 to 4 inches 2.5 to 4.5 percent dearer and 2 to 4 inch and shorter, 2 to 3 percent dearer.

Long Oddments were nominally 2 percent dearer with short oddments ranging from 1 percent cheaper to 2 percent dearer.

Widespread interest for the wide cross section of types available with Chinese shippers most active, supported by Australasia, Western Europe, Middle East and India.

Next sale on 23rd July comprises approximately 6,000 bales from the North Island, down 32 percent on anticipated roster due to poor weather delaying shearing.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Stats NZ: Consents For New Homes At All-Time High

A record 41,028 new homes have been consented in the year ended March 2021, Stats NZ said today. The previous record for the annual number of new homes consented was 40,025 in the year ended February 1974. “Within 10 years the number of new homes ... More>>

Stats NZ: Unemployment Declines As Underutilisation Rises

The seasonally adjusted unemployment rate decreased to 4.7 percent in the March 2021 quarter, continuing to fall from its recent peak of 5.2 percent in the September 2020 quarter but remaining high compared with recent years, Stats NZ said today. ... More>>


Digitl: The Story Behind Vodafone’s FibreX Court Ruling

Vodafone’s FibreX service was in the news this week. What is the story behind the Fair Trading Act court case? More>>

Reserve Bank: Concerned About New Zealand's Rising House Prices

New Zealand house prices have risen significantly in the past 12 months. This has raised concerns at the Reserve Bank of New Zealand – Te Putea Matua about the risk this poses to financial stability. Central banks responded swiftly to the global ... More>>

Westpac: Announces Strong Financial Result

Westpac New Zealand (Westpac NZ) [i] says a strong half-year financial result has been driven by better than expected economic conditions. Chief Executive David McLean said while the global COVID-19 pandemic was far from over, the financial effect on ... More>>

MYOB: SME Confidence In Economic Performance Still Cautious

New insights from the annual MYOB Business Monitor have shown the SME sector is still cautious about the potential for further economic recovery, with two-in-five (41%) expecting the New Zealand economy to decline this year. The latest research ... More>>