Continuing strong growth in Chinese demand for New Zealand beef is set support solid returns for the nation’s beef producers over the coming year.
After little movement in wages in recent years, people working in primary industries have made gains in what they earn, according to the latest Federated Farmers Rabobank Remuneration Survey.
Favourable market conditions should underpin a second year of broad-based profitability for New Zealand agriculture.
The 4700 bales on offer saw a 74% clearance with mixed results, however all prices paid locally are still above last week’s North Island auction levels, NZ Wool Services International chief executive John Dawson reports.
The 7250 bales of North Island wool on offer saw a 72% clearance with most types easing further.
The double auctions in the South and North Islands attracted more interest yesterday.
The South Island sale of 8565 bales comprising a wide range of wool types saw good support with 78% of the offering selling.
Despite a strengthening NZ dollar, the varied selection at this week's South Island auction attracted strong support.
The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling.
The more varied offering at this weeks' South Island auction saw targeted buying with better demand for the longer wools.
The ongoing fallout from the Brexit result, continued minimal activity from China and a strong New Zealand dollar have compounded to make significant inroads into local wool values.
The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.
The high volume of short second shears eased slightly at the latest NZ Wool Services International's auction compared to the last North Island auction on May 12, says chief executive John Dawson.
New Zealand Wool Services International Limited's CEO John Dawson reports that targeted buying saw some types well supported at the North Island auction.
The wool market in both the North and South Island continues to show resilience.
New Zealand Wool Services International chief executive John Dawson reports this week's auctions held in both centres saw slightly different price movements between them, however overall the local market remains firm.
New Zealand Wool Services International marketing executive, Malcolm Ching reports that the 15,000 bales on offer from both centres this week saw a slight easing for most types.
New Zealand Wool Services International's chief executive John Dawson says the North Island auction received mixed support with the stronger NZ dollar having a limited impact in some areas.
New Zealand Wool Services International's chief executive John Dawson says a slightly easier NZ dollar and limited wool volumes combined with steadier enquiry, saw most categories well supported.
NZ Wool Services International's North Island offering of 5400 bales received strong support with 99% selling, chief executive John Dawson says.
The 5100 bales of South Island wools on offer this week through the Wool Services International auction saw strong competition and a 90.5% clearance.
Wool prices eased for most types again this week for the North Island, says NZ Wool Services International marketing executive, Malcolm Ching.
New Zealand Wool Services International Limited's marketing executive, Malcolm Ching, reports that wool prices have continued to decline.
NZ Wool Services International Limited's CEO John Dawson says the strengthening dollar and low overseas interest saw most types ease for the 5,100 bales of North Island wool on offer this week.