Wool

Wool prices go backwards after coming off bottom at Christchurch sale

[2 October/ Stuff] The Christchurch Wool sale produced mixed results last week. The offering included good quality merino and halfbred types as well as crossbred hogget wool. Some reoffered wool also appeared after weeks of improved prices. Pre-lamb crossbred fleece remained firm and poorer styled crossbred fleece struggled. Crossbred wool from 31 to 34 microns...

Merino wool sells well

[29 September/ Farmers Weekly] In the latest Christchurch sale, mid-micron wool prices decreased due to Asian buyers leaving the market. Returns were 6 percent to 9 percent lower for the 24 to 30 microns fleeces compared to the sale two weeks earlier. The price decreases included mainstream crossbred wools, primarily pre-lambing shorn wools. This reversed...

Wool sacks full of surprises

[18 May/ Farmers Weekly] Wool sacks sent to New Zealand scouring plants recently included cell phones, clothing, pizza, $5 notes, spray cans, steel bars and many other objects. Wool Scourers Production Co-ordinator Struan Hulme said steel bars have the potential to cause up to $20,000 of damage to scouring equipment. Mr Hukme also noted the...

Crossbred wool prices stabilise from previous plunges at Christchurch sale

[15 September/ NZ Farmer] The crossbred wool market remained firm for a high quality offering at the Christchurch wool sale on 14 September. Strong demand from Asia meant crossbred wool prices continued to steadily move in a positive direction. The better prepared wools showing uniformity of length were the most sought after. Prices have yet...

Signs of confidence returning to wool market at Christchurch

 [8 September/ Stuff] Farmers are more upbeat about wool prices after prices strengthened for a top offering of pre-lamb crossbred, mid micron and merino fleece across all micron categories at the Christchurch wool sale. Competition for the merino offering was well spread, with prices in line with Australia at levels unseen for years. Mid Micron...

Kiwi firm Allbirds raises almost $40 million

[6 September/ NZ Herald] Allbirds, a New Zealand merino footwear label has raised another $24 million in funding after raising almost $10 million last year. This new capital investment brings the company’s total investment since it was launched in 2015 to $38.4 million. Allbirds was co-founded by former Wellington Phoenix Captain and All Whites Vice-Captain...

Wool carpet sales hit the floor

[5 September/ Rural News Group] Wool carpet sales have dramatically decreased. Figures show that ten years ago, 80 percent of carpet sold in New Zealand was wool, compared to just 15 percent currently. Cavalier Chief Executive Paul Alston says consumers are shifting to synthetic carpets; however, wool is still a big seller in Australia and...

Crossbred wool prices come off low as fine wool edges to record levels

[17 August/Stuff: NZ Farmer] Farmers will be hoping recent wool sales indicate that crossbred wool prices have finally bottomed out and taken a turn for the better. The sales showed a lift in prices of between 5 and 7% after a long run of low prices, although wools coarser than 34 microns continue to lack...

Cavalier looks to rationalise scours

[24 July/ Farmers Weekly] Cavalier Wool Holdings is considering ways to rationalise its three Hawke’s Bay wool scours. It has two major scour plants, and one “overflow” scour. Cavalier Corp Chief Executive Paul Alston said multiple scours were necessary due to the size of the North Island wool clip. The change follows the merger of...

NZ wool market shows signs of life in latest auction

[14 July/ National Business Review] A weaker dollar and wider range of wool types offered has helped lift New Zealand wool prices at a more robust clearance rate. 77 percent of the 4,432 bales offered were cleared and prices were higher than last week’s North Island sale. The coarse crossbred indicator showed a 9-cent prices...

Winston Peters wants government departments to have wool carpets

 [10 July/ Stuff] NZ First is calling for wool carpets to be put back on the floors of government departments and state houses, with Party Leader Winston Peters believing the move would revitalise New Zealand’s declining wool industry and make for better building. NZ First seek to use natural, renewable and sustainable wool and natural...

Worst wool season since GFC ends

[5 July/ NZ Herald] New Zealand finished its worst wool season since the global financial crisis due to Chinese preference moving to fine wool. Out of 420,378 bales auctioned, 311,698 were sold in the season ending June 30, giving an average clearance rate of 74 percent. The number of bales increased 1.1 percent compared to...

Breakthrough over merino footrot disease

[23 June/ Radio NZ Rural] The New Zealand Merino Company has used DNA to accurately predict how resilient a sheep will be to footrot, something that will enable farmers on flat land to farm high value merino.  The disease is estimated to cost the industry $10 million a year and has constrained the growth of...

Crossbred wool prices cheaper still

[19 June/ Otago Daily Times] New Zealand’s cross bred wool sector is facing real challenges heading into the new season with brokers indicating returns are likely to be well below sustainable levels. The last season saw the market meltdown with seemingly no bottom according to the PGG Wrightson wool team. Reserve prices have not been...

CP Wool captures greater value

[12 June/ The NZ Farmers Weekly] Carrfields Primary Wool (CP Wool) has relaunched its United States business Just Shorn to offer premium New Zealand wool carpets to wealthy American consumers. 50 percent of the retail margin would now be captured by CP Wool, and the relaunch is seen as an opportunity to ensure greater control...

Cavalier projects $2m loss for FY17 in latest earnings downgrade

[1 June/ NZ Herald] Cavalier Corporations outlook has worsened since February’s earnings downgrade and the company now expects to post a $2 million loss on normalised earnings after tax in the year to June 30. Chief Executive Paul Alston said a weak New Zealand retail sector demand and exceptional competitor activity were reasons for the...

‘Pure alpaca’ deception leads to hefty fine

 [23 May/ Radio New Zealand Business] Princess Wool has been fined $194,000 by the Commerce Commission for misleading consumers about the wool content of their alpaca and cashmere duvets.  The company’s manager and Director were also charged and fined.  The Commerce Commission said the fines imposed bring the total fines against companies and individuals who...

Farmers remove chunk of crossbred wool from Christchurch sale in difficult market

 [8 May/ Stuff] Despite an improved bidding tone at the recent Christchurch wool sale, farmers withdrew 14 percent of the 7500-bale crossbred offering due to reluctance to offer their wool at market levels. Wider Asian market renewed activity caused a slight price increase from the last sale on April 20. Good colour fleece and second...

Changing Chinese fashions slam NZ wool

 [27 April/ Radio New Zealand Rural] New Zealand Wool Services International have reported that the New Zealand wool market is being hit by a change in Chinese wool demand.  Chinese fashion trends are demanding more finer fibres, which has seen the demand for New Zealand’s coarse wools (which make up around 70% of exports from...

China key to wool sales

 [20 March/ Otago Daily Times] ANZ’s latest Agri Focus report says increased Chinese demand is necessary for a more sustained upturn in wool prices. New Zealand exports to China through the first half of 2016-17 were 37 percent below the same period last year. This result was due to lower end-product demand in Europe and...

Dannevirke woman ‘humbled’ to be admitted to NZ’s Business Hall of Fame

 [6 March/ New Zealand Herald] Dannevirke’s Mavis Mullins is to be inducted to the New Zealand Business Hall of Fame. Ms Mullins was the only women, and only person from outside of the Wairarapa, to serve as the Golden Shears’ president, and started out in business running the long-time Paewai family shearing contracting firm. In...

Wool leaders at odds on future

[27 February/ NZ Farmers Weekly] Wool Industry Research research manager, Ian Cuthbertson said synthetic carpets had overtaken wool in “the guaranteeing of performance and quality” and the focus must move to finding alterative high-value, high-volume uses for wool due to its inability to compete with synthetic carpet. Cuthbertson acknowledged previous efforts, however highlighted their high-value,...

Cavalier reports sharply lower first-half net profit

[17 February/ National Business Review] Cavalier Corp says net profit for the six months to December was $31,000, showing a sharp decline from a $3.5 million profit in the same period a year earlier. The cost of reducing debt, rationalising inventory and restructuring impacted the first half profit figure, combined with the higher wool price...

Scientists look to unravel mutant sheep wool mystery

[14 February/ Radio NZ Country] Research into the unusual straight and silky wool of mutant sheep is getting closer to understanding why it behaves differently, with AgResearch having found ‘felting lustre mutants’ experience a radical change in wool structure driven by specific protein changes.  The natural mutation creates wool that is straighter and silkier (a...