Friday, 09 March 2012 09:13

Dollar drop lifts wool prices

Written by Pamela Tipa

font size decrease font size increase font size
Print
Email

The North and South Island Wool auction comprising 26,000 bales saw a firm to dearer market with a 90.3% clearance, New Zealand Wool Services International Ltd's marketing executive, Malcolm Ching says.

The weighted indicator for the main trading currencies compared to the last sale on March 1 dropped by 1.86 %, underpinning prices for one of the season's largest single day offerings.

Ching advises Fine Crossbred Fleece and Shears ranged from firm to 5% dearer, supported by steady Chinese interest.

Coarse Crossbred Fleece was 1 to 3% stronger with Coarse Shears firm to 3% dearer. First Lambs were firm to 2% dearer, except some of the shorter types in the South Island which eased up to 1%. Oddments ranged from firm to 4% stronger.

Good competition was reported with China, Australasia and Middle East principal buyers, supported by Western Europe, United Kingdom and India.

The next sale on March 15 comprises about 7300 bales from the South Island.

More like this

Lanaco and Blueair Launch World-First NZ Wool Air Filter

New Zealand wool is reaching new heights as air filtration companies move away from synthetic products to biodegradable alternatives.

Wool Impact and Campaign for Wool NZ Merge to Form Collective

Will a stronger, more coordinated voice help rebuild confidence and improve returns in the wool sector?

Editorial: Wool's Back in the Black

OPINION: Confidence in the wool sector is rebounding as prices hit levels not seen in more than 15 years.

NZ-India FTA Opens New Opportunities for Strong Wool Trade

The recently signed free trade agreement with India is an invitation to strengthen relationships between the New Zealand and Indian strong wool industries, says Wool Impact chief executive Andy Caughey.

New Zealand Wool Prices Hit Highest Levels Since 2011 Amid Tight Supply and Surging Demand

Strong competition and tightening supply have seen wool reach its highest prices paid at auction since 2011.

Featured

Feds Back National’s 19 Farming National Standards

National’s pledge to introduce 19 new national standards shows the party is serious about getting Wellington out of farming, Federated Farmers says.

HortNZ Backs National’s Plan for Vegetable Growers

The National Party’s policies to make it easier to grow fresh vegetables, secure reliable water and energy and simplify farm planning are practical changes that will give growers the confidence to invest, according to Horticulture New Zealand (HortNZ).

Fonterra CFO Andrew Murray Resigns

Fonterra Co-operative Group chief financial officer Andrew Murray has resigned to take up a role outside the dairy giant.

Pāmu Silver Stabilizer Dairy Beef Genetics Open to Farmers

A major move is about to get underway to improve the quality and viability of dairy beef and cattle in NZ.

Vets Back Dairy Cattle Code of Welfare Changes: NZVA

Veterinarians say changes to the code of welfare for dairy cattle provides a positive foundation for improved cattle welfare across the country.

International Day of Rural Women: Two DairyNZ Farmers’ Stories

Today, 15 October, is the International Day of Rural Women, which recognises rural women’s contribution to farming, communities and the environment.

National

Rural Mobile Coverage Worse After 3G Shutdown, Survey Finds

Mobile phone coverage and reliability are deteriorating in rural areas, and farming families are bearing the cost, according to a…

HelloFresh Launches Country Cookout Box in NZ

HelloFresh New Zealand has launched a limited-edition Country Cookout Box of Southern-inspired meals, arriving as the 2026/27 rodeo season gets…

Ballance Welcomes National's Policy on Securing Fertiliser Supply Contracts

Farmer-owned fertiliser company, Ballance Agri Nutrients is welcoming National’s plan to negotiate security agreements with key supplier countries to protect…