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

 


Science Media Centre: Understanding DDoS cyber attacks – Expert Reaction

Cyber attacks have hit several New Zealand organisations this month, disrupting their online services. The Distributed Denial of Service (DDoS) attacks were the same kind of cyber attack that affected the NZX around this time last year... More>>


Financial Markets Authority: Spike in investment scam complaints since COVID

The Financial Markets Authority (FMA) - Te Mana Tātai Hokohoko – is warning New Zealanders to be on the lookout for three unique types of scams that have been on the rise since the start of COVID-19. The warning comes as the FMA responds to a rise in complaints about investment scams and fraud lodged with the regulator in the first half of this year... More>>


Statistics: Strong export growth narrows current account deficit to $3B

The seasonally adjusted current account deficit narrowed to $3.0 billion in the June 2021 quarter, Stats NZ said today. The current account deficit was $2.2 billion narrower than the previous quarter due to an increase in value of goods exports (up $1.4 billion) and services exports (up $1.7 billion... More>>




Statistics: GDP rises in the June 2021 quarter

Gross domestic product (GDP) rose by 2.8 percent in the June 2021 quarter, following a 1.4 percent increase in the March 2021 quarter, Stats NZ said today. June 2021 quarter GDP was 4.3 percent higher when compared with the December 2019 quarter... More>>


Energy-from-waste: $350 Million Plant To Deliver Renewable Energy Considered

Investigations have begun into the viability of building an Energy-from-Waste plant that will safely convert 350,000 tonnes of waste, that would otherwise be dumped into South Island landfills annually, into renewable electricity... More>>

Olam: Confirms plans for commissioning of NZ dairy plant

OFI, a global leader in natural and sustainable food ingredient solutions, today confirmed plans to develop a new dairy processing facility at Tokoroa. It is now taking expressions of interest from potential farmer suppliers, employees, contractors, and general trade suppliers... More>>