Friday, 16 October 2015 12:51

Strong dollar and slow market lowers wool prices

Written by 

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.

The weighted currency indicator compared to the last sale on the 8th of October firmed 2.27%, having an easing effect on local wool prices with 82% selling.

Very limited activity from the usually dominant Chinese market saw their usual types incur significant reductions, however continued covering from past sales for the Australasian carpet market resulted in steadier prices for this sector on limited supply.

Dawson advises, Finer Crossbred full fleece were 13% to 17% cheaper with the coarser end 3% easier.

Fine Crossbred shears ranged from 1% to 3% cheaper in local terms with the very short types fairing the best.

Full length Coarse Crossbred wools were 2% to 3% cheaper with shears firm to 1% easier.

Short Oddments received limited attention, reducing up to 10%.

Limited competition with most activity covering old sales to China and Australasia with limited interest from Western Europe, Middle East, United Kingdom and India.

Next sale on 22nd October comprises approximately 7,950 bales from the South island.

More like this

Getting on top of a lousy problem

For strong wool sheep, lice infection is a nuisance more than a hefty financial cost. But, for fine wool sheep the financial toll is much greater. 

Small profit for Wools NZ

The Wools of NZ board considers its 2019 financial outcomes to be satisfactory given “the first year as a fully commercial company, operating in a very challenging wool market”.

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.

» The RNG Weather Report

Featured

 

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Useless

The Hound notes that one of the country’s poorest financially performing state-owned enterprises – the Government farming entity Landcorp (or…

Rural revolt

Your old mate hears that the antics of the Government – especially the NZ First component – are fuelling motivation…

Popular Reads

Rural Life

Mechanisation new for the US

The impetus behind developing the Klima stripper back in 2007 was a continual lack of labour during the pruning season.