Friday, 31 August 2012 15:24

Wool prices firmer

Written by 

The slightly easier New Zealand dollar and increased international demand combined to improve most wool prices this week, New Zealand Wool Services International Ltd's marketing manager, Paul Steel reports.

Of the 12,100 bales on offer 79% sold.

The weighted indicator for the main trading currencies dipped 1.2%, helping local price levels.

Steel advises recent lower market levels and slowly reducing stock levels in the manufacturing pipeline have helped stimulate recent buying with China beginning to lift their activity.

Fine mid micron fleece under 28 microns were firm to 3% easier with the coarser end 2 to 4% dearer.

Fine crossbred fleece gained 2 to 3.5% reflecting Chinese interests. Good style coarse crossbred fleece remained firm with average styles firm to 3% dearer.

Coarse shears were generally firm to 1.5% stronger except the 2 to 3 inch wools which lifted 3%.

A nominal offering of first lambs were firm to 1.5% dearer. Oddments came under strong competition lifting 6% for all categories.

Well spread competition with China, India and United Kingdom principals, supported by Western Europe, Australasia and the Middle East.

The next sale on September 6 comprises about 8500 bales from the North Island.

More like this

Wool sector remains in limbo

The wool industry is in limbo waiting to see what the world outlook is like “once countries start resuming normality of some description”.

Hopes for less restrictions

The wool industry hopes for some lifting of COVID-19 restrictions limiting shearing and crutching to animal welfare reasons only.

Wool fashion event goes online

The WoolOn Creative and Fashion Society is changing tack for its 2020 event in August in response to the COVID-19 global pandemic.

Wool auctions back in action

Wool trading on both sides of the Tasman is back up and running after a cyberattack on industry software provider Talman.

Featured

Get ready for the ‘now’ norm

Get prepared for a ‘Now Normal’ future, says Ian Proudfoot – Global Head of Agribusiness for KPMG – discussing the likely effects of COVID-19 in the months to come.

 

Northland farmers count the costs

Northland farmers are starting to count the cost of one of the most severe droughts to hit the region as the cost of feed and lower prices for stock are the order of the day.

Times will get better for deer sector

While the deer industry faces several challenges in the short term, there will be a strong rebound in New Zealand venison sales once global demand recovers.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Dirty water

The Hound understands that Federated Farmers has been cut out of the information loop, for the past year, on the…

Who’s paying?

Your canine crusader noticed a full-page ad recently run in a farming paper calling on meat companies SFF and Alliance…

» Connect with Rural News

» eNewsletter

Subscribe to our weekly newsletter

Popular Reads