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.

» Connect with Rural News

More like this

Championing wool to the world

Telling the story of wool is one of the keys to its resurgence as the global fibre of choice, according to NZ grower owned company Wools of New Zealand.

Shearing and wool courses

New ‘micro-credentials’ in wool harvesting will help meet a critical need to train shearers and wool handlers, claims Primary ITO chief executive Linda Sissons.

$2b pay off in fine wool shift – NZM

Shifting half of New Zealand’s crossbred wool clip to higher value fine wool contracts could boost the economy by about $2 billion, says NZ Merino Company (NZM) chief executive John Brakenridge.

» The RNG Weather Report

Featured

A big future ahead

Age hasn't been a barrier for young vegetable grower of the year Austin Singh Purewal.

 

Sheep and beef doing its bit

No increase in stock numbers in the sheep and beef sector is anticipated as the industry moves towards carbon neutrality, says Beef + Lamb NZ head of nutrition Fiona Windle.

Fonterra lifts milk price

Good news for Fonterra farmers – the co-op is increasing its 2019-20 forecast farmgate milk price by 30c/kgMS.

» Connect with Rural News

» Connect with Rural News

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Chipping in

The Hound was intrigued to read an article recently, on the Newsroom website, that shows that Education Minister Chris ‘Chippy’…

I'm alright

This old mutt has been contacted by many concerned individuals about the role the former Synlait boss John Penno is…

 

» Connect with Rural News