fbpx
Print this page
Friday, 29 July 2016 14:23

South Island wool bounces

Written by 
Despite a strengthening NZ dollar, the varied selection at this week's South Island auction attracted strong support. Despite a strengthening NZ dollar, the varied selection at this week's South Island auction attracted strong support.

Despite a strengthening NZ dollar, the varied selection at this week's South Island auction attracted strong support.

New Zealand Wool Services International Ltd's chief executive John Dawson reports that of the 7700 bales on offer 85% sold.

The weighted currency indicator was up 2.06% compared to the previous week's auction.

Dawson advises a selection ranging from 21 micron merinos to 42 micron coarse wools with a cross section of styles and lengths provided attractive options to buyers which overrode the possible negative impact of the stronger dollar compared to the similar South Island offering on July 14.

Mid micron fleece were well supported with increased Chinese interest, lifting 4 to 12%.

Fine crossbred fleece and shears were 2 to 3% firmer. Coarse crossbred full fleece lifted 3% for all styles with coarse shears ranging from firm to 3.5% dearer. Oddments were up 3 to 5%.

Where comparable to last week's North Island auction, levels are 4 to 7% higher.

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

The next sale on August 4 comprises about 5000 bales from the South Island.

More like this

A big win for wool!

State-owned social housing provider Kainga Ora is switching to wool carpet for its new homes.

Editorial: Making wool great again

OPINION: Otago farmer and NZ First MP Mark Patterson is humble about the role that he’s played in mandating government agencies to use wool wherever possible in new and refurbished buildings.

Featured

Fencing excellence celebrated

The Fencing Contractors Association of New Zealand (FCANZ) celebrated the best of the best at the 2025 Fencing Industry Awards, providing the opportunity to honour both rising talent and industry stalwarts.

B+LNZ launches AI assistant for farmers

Beef + Lamb New Zealand has launched an AI-powered digital assistant to help farmers using the B+LNZ Knowledge Hub to create tailored answers and resources for their farming businesses.