Wool market information available to farmers

MEDIA RELEASE

DATE: 25th August 2005

Wool market information available to farmers

Information on wool market trends, weekly sales reports and market forecasts are now available from Meat & Wool New Zealand.

Meat & Wool New Zealand’s CEO Mark Jeffries says since the sale of Tectra by Wool Equities Limited earlier this year, farmers have been without an independent wool indicator price service.

“Over the last couple of months, we’ve been working closely with the New Zealand wool industry to develop a service to provide growers with basic information on the trends driving the New Zealand wool market. This new service will be available from Meat & Wool New Zealand in late August, via our website.”

Jeffries says the new service is based on commercial information produced by the wool industry from appraisals and purchases of wool at auction.

“This is a cost effective way of providing wool growers with the basic information they require on the wool market”.

The Wool Indicator is available on Meat & Wool New Zealand’s website www.meatandwoolnz.com by following the links on the homepage or by calling 0800 647 000.

ENDS

Notes for Editors: There are three distinct parts of the Meat & Wool New Zealand wool market information service –

1. A weekly sale reports describing market activity, including market indicators for fine, medium, fine crossbred and strong crossbred wools.

2. A quarterly wool market update on the global supply and demand drivers including forecasts for the coming quarter (available from 30th September).

3. Production of annual statistical information on wool production, wool quality and global markets.

4. The website link to the Wool Market Indicator is – http://www.meatandwoolnz.com/main.cfm?id=217

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