We have partnered with Wool Impact and collaborated with all points of the domestic wool supply chain to develop a Strong Wool Indicator (SWI) which is free of biases, represents the health of our market, and robust to some of the common traps of this kind of broad market view. To understand more about the mechanisms behind it just keep reading!
Where does the data come from?
We obtain our source data from the public auctions that take place in Napier and Christchurch on alternate weeks. We only consider the lots of wool that have been sold, in order to provide an accurate reflection of the value of wool that can be achieved. This approach gives us insight into approximately 51% of the wool we sell, providing us with a useful window into the market.
An indicator built on strong foundations
We make sure to use the most frequently occurring types of wool in our data analysis. This ensures that we have strong and reliable information that we can depend on each week. By using these common types of wool, we can make more accurate and informed decisions when it comes to our trading activities.
Open to change
We have used a retro-active analysis to chose what the Strong Wool Indicator is made up of, as a way to ensure it is robust going forward. But, like most people we can't predict the future. The profile of the NZ Wool clip is prone to change and evolve over time and if the methodology of this indicator is no longer appropriate then we will adapt as well.
This is just the beginning!
We're thrilled to announce that the SWI will be the first feature on our platform, and it will be available for everyone to access free of charge. However, this is just the beginning of what our Fusca platform has to offer. Our goal is to provide you with data that's not just relevant to the entire market, but specifically tailored to the types of wool that your business produces or utilises.
So, stay tuned and watch this space for exciting updates!
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