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

 

Strong Dollar Softens Wool

STRONG DOLLAR SOFTENS WOOL

New Zealand Wool Services International Limited’s Marketing Executive, Mr Malcolm Ching reports that a rapidly strengthening New Zealand dollar impacted on local wool levels for the 8,000 bales of North Island Wool on offer at auction this week. Due to the lower levels some grower reserves were not met with 78 percent selling.

Compared to last week, the weighted currency indicator increased 3.73 percent with the NZ to US dollar 4.40 percent stronger. In off-shore client terms the market in their currencies remains firm to dearer.

North Island price levels for the predominantly short second shear offering are again below the more varied selection from last weeks’ South Island auction.

Compared to the last comparative offering at the 26th May North Island auction, Mr Ching advises;

Fine Crossbred Early Shorn and Second Shears were 1 to 4 percent cheaper.

Coarse Crossbred Full Fleece were 3.5 percent cheaper for average style and 1 to 3 percent dearer for poor colour.

Coarse Shears were firm to 3 percent cheaper with bigger discounts for high seed content lines.

First Lambs were 4 to 6 percent cheaper.

Crossbred Oddments ranged from firm to 7 percent easier.

Limited competition with Australasia and Western Europe principals, supported by Middle East, United Kingdom and China sparingly.

Next sale on 16th June comprises a nominal offering of 4,100 bales from the South Island due to weather affected harvesting.

ENDS

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

NIWA: Scientists Say Methane Emitted By Humans ‘vastly Underestimated’

NIWA researchers have helped unlock information trapped in ancient air samples from Greenland and Antarctica that shows the amount of methane humans are emitting into the atmosphere from fossil fuels has been vastly underestimated... More>>

ALSO:

SMC Expert Reaction: Record Dry Spells And Effects On Forests

With no rain forecast before Sunday, Auckland is about to break a record for the city's longest dry spell. Niwa says Auckland is likely to hit 40 consecutive days without rain this weekend . The upper North Island is seeing severe meterological ... More>>

ALSO:

Reserve Bank: Official Cash Rate Remains At 1.0 Percent

The Monetary Policy Committee has decided to keep the Official Cash Rate (OCR) at 1.0 percent. Employment is at or slightly above its maximum sustainable level while consumer price inflation is close to the 2 percent mid-point of our target range. ... More>>

ALSO:



Science Media Centre: Novel Coronavirus Detected In China – Expert Reaction

The virus was detected after more than 40 people were hospitalised with pneumonia in Wuhan City, China and the outbreak traced to a large animal and seafood market. The Centers for Disease Control and Prevention reports that person-to-person transmission ... More>>

ALSO:

Science Media Centre: Flooding could release toxic gas – Expert Reaction

A chemical substance known as ouvea premix stored at an old paper mill in Mataura could release toxic ammonia gas if it comes in contact with water.More>>

ALSO: