Thursday, 22 October 2015 16:54

Wool continues to soften

Written by 

New Zealand Wool Services International Limited's marketing executive, Malcolm Ching, reports that wool prices have continued to decline.

This is despite a slightly easier New Zealand dollar compared to the last sale on 15 October.

The weighted indicator for the main trading currencies came down 0.85 percent. Of the 8,290 bales on offer, 70% sold.

Ching advises that the tightening of the Chinese economy is restricting new business with exporters covering for old orders only, with quota issues restricting concluding new contracts.

Compared to 8th October sale;

Merino Fleece 17 to 18.5 and 22 to 23.5 microns eased 2 to 6% with pressure on 19 to 19.5 microns increasing levels by 4%.

Mid Micron wools were neglected with 24 to 29.5 microns reducing by 8 to 9%.

Compared to 15th October sale;

Fine Crossbred Fleece 31 to 32 microns were 11 to 13% cheaper.

Fine Crossbred Shears 32 to 35 microns were down 1.5 to 3.5%.

Full Fleece coarser than 36 microns were nominally up to 1% easier.

Coarse Shears were 1.5 to 2% down.

Short oddments were 3 to 5% cheaper.

Limited competition with old orders for China dominating the finer wools and Australasia supporting the coarser sector. Limited support from Western Europe, Middle East, United Kingdom and India.

Next sale on 29October comprises of approximately 5,100 bales from the North 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”.

Featured

$26m boost to rural health

The government has announced a $300 million dollar capital investment in health, with $26 million going to regional and rural service projects.

New levy to hit farmers

The New Zealand Agricultural Aviation Association (NZAAA) is up in arms about a proposed new safety levy.

 

Winegrower wins a Nuffield

For the first time in 45 years, a member of New Zealand’s wine industry has won a Nuffield Scholarship.

» The RNG Weather Report

» Latest Print Issues Online

The Hound

Says it all!

A mate of yours truly reckons one only needs to look at the gongs given out in the New Year…

Easily bought

This old mutt was not surprised to see a number of supposed ag industry ‘thought leaders’ (a pompous title if…

Popular Reads

New levy to hit farmers

The New Zealand Agricultural Aviation Association (NZAAA) is up in arms about a proposed new safety levy.

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.