Govt invests in wool
The Government says it is investing to create new product categories and new international markets for strong wool and is calling on Kiwi businesses and consumers to get behind the environmentally friendly fibre.
New Zealand Wool Services International Ltd's chief executive, John Dawson reports the weakening NZ dollar across the board saw the weighted currency indicator fall 4.22%.
Despite these positive factors, local prices were still below last week's South Island auction, but only marginally under the last more comparative North Island selection.
Dawson reports that compared to the North Island sale on the July 7, fine crossbred shears ranged from 2% cheaper to 2% dearer. Coarse good colour full fleece were nominally firm with the average style 1 to 2% cheaper.
Coarse crossbred early shorn were 1% cheaper, longer shears firm to 1% dearer with shorter types firm to 2% easier.
Short oddment remained firm.
Limited interest with renewed activity from Western Europe adding a steadying influence, supported by Australasia and the United Kingdom, with India, Middle East and China sparingly.
The next sale on July 28 comprises about 7400 bales from the South Island.
