Friday, 22 July 2016 14:36

Wool market steady

Written by 
The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling. The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling.

The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling.

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.


Read More:


The next sale on July 28 comprises about 7400 bales from the South Island.

More like this

Featured

Breckenridge to Lead Lactalis Australia

Global dairy giant Lactalis has integrated its Australian operations with the Mainland Dairy consumer business it acquired from Fonterra earlier this year.

LIFT Programme Names Nine Farms for Virtual Fencing Trial

High country stations, mixed sheep and beef farms, Māori-owned farms, corporates and family operations are among the nine commercial farms taking part in the Livestock Innovation Farming Transformation programme, known as LIFT.

» Latest Print Issues Online

The Hound

'LinkedIn Greens'

OPINION: The same mainstream media muppets that brought you Jacindamania in 2017 have been flat out pimping for the Opportunities…

UK Warning

OPINION: Your old mate reckons the atrocious way farmers in the UK are treated by their lords and masters in…

» eNewsletter

Subscribe to our weekly newsletter