Friday, 25 May 2012 09:58

Wool prices lift

Written by 

Compared to last week's North Island auction on the May 17 the weaker New Zealand dollar and restricted supplies, coupled with renewed overseas buying, combined to lift prices for the 7885 bales of South Island wool on offer this week, New Zealand Wool Services International Ltd's general manager, John Dawson advises.

The weighted indicator for the main trading currencies was down 1.28% and 87.7% of the offering sold.

Dawson reports a small selection of early season mid micron fleece were firm to 2% dearer compared to the last offering on May 10.

Inter-Island comparison of wool types do not always easily line up, however in general terms compared to May 17 sale, Fine Crossbred Fleece and Shears were 2 to 4% firmer.

Coarse crossbred full fleece were to 2 to 4.5% stronger. Coarse Shears were strongly contested generally lifting 5 to 10%.

First Lambs were up to 2% dearer. Long oddments remained firm with shorter types up to 2% stronger.

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

Next sale on May 31 comprises about 9400 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.


Southland on the brink

Southland is teetering on the edge of a bad situation, according to DairyNZ’s lead consulting officer in the South Island, Tony Finch.


» 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

Drop in payout looms

Dairy farmers are being told to brace for a big drop in milk payout next season.