Home / Knowledge / News / Textiles / Challenging times ahead for wool industry
Challenging times ahead for wool industry
25
Mar '08
Wool New Zealand's forecasts of wool prices and wool production point to continued challenging times ahead for the NZ wool industry.

Last season the average greasy price received by wool growers for auction wool increased moderately year-on-year, driven by a sharp increase in fine wool (<24 microns)="" and="" an="" increase="" for="" mid="" micron="" wool="" (24-31="" microns)="" while="" strong="" wool="" (="">32 microns) prices decreased moderately.

This season, it is expected that fine wool prices received by wool growers will increase further but by a smaller amount. In contrast, prices received for both mid-micron and strong wool are expected to fall. The poor price outcomes in NZ$ terms are due to the increase in the NZ trade weighted exchange rate.

M&W's New Zealand Economic Service estimates that sheep numbers will decline further in 2007/08. This follows the decline during the 2006/07 season that was driven mainly by a decrease in sheep numbers on the East Coast because of drought conditions.

As a result of the doubling of dairy prices on the world market, the dairy herd continues to expand to the detriment of both sheep and cattle. Declining sheep numbers will be partially offset by an increase in fleece weights in 2007/08, however total (shorn plus slipe) wool production in New Zealand is expected to decrease in 2007/08.

Despite the current negative situation regarding sheep profitability, M&W New Zealand remains confident that better global demand for protein and the growth in developing markets will ensure better returns from sheep farming within the next 2 to 3 years.

Australian Wool Innovation Limited

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Shawn Honeycutt
Bolger & O'Hearn

‘The Indian market is interesting and rather persistent in seeking new...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search