Wool Continues Rise Despite Currency Influence
3rd of September
New Zealand Wool Services International Ltd reports that prices at this week’s wool sale continued to rise, despite the negative currency influence.
In the combined auction of North and South Island wool, 89 per cent of the 9000 bales on offer sold.
Since the previous offering on 26 August the New Zealand dollar has increased in value against a weighted indicator of the main international wool trading currencies by 1.02 per cent. However, ongoing strong demand, which has been evident over the past few weeks, over-rode that effect.
Prices for customers purchasing in United States dollars have now increased by more than six per cent since early July, while the currency movement has only been one per cent.
According to New Zealand Wool Services International, today’s prices for mid micron fleece were up by between two and five per cent, while fine crossbred fleece and shears rose by between one and four per cent.
Coarse crossbred fleece was firm to slightly stronger, while coarse shears lifted by between 1.5 and three per cent.
Oddments ranged from firm to four per cent dearer.
Buyers from India, China, the Middle East and the United Kingdom dominated strong competition at today’s sale. Interests from Australasia and Western Europe took supporting roles.
Next week’s auction, on 9 September, will be in Napier and Christchurch, offering approximately 6600 bales from the North Island and 5800 bales of South Island wool.
New Zealand Wool Services International publishes a detailed weekly report on New Zealand wool auction trends. A summary of this can be viewed at http://www.nzwsi.co.nz. The full report is available by negotiation with the company.
Article supplied by New Zealand Wool Services International.
Wool Maintains Upward Price Trend
27th of August
New Zealand Wool Services International Ltd reports that prices at this week’s wool sale continued their recent upward trend, with most types increasing by at least two per cent.
In the combined auction of North and South Island wool, 93.7 per cent of the 7400 bales on offer sold.
Since the previous offering on 19 August the New Zealand dollar has dropped in value by 1.14 per cent against a weighted indicator of the main international wool trading currencies, assisting the market’s firmer tone.
According to New Zealand Wool Services International, today’s prices for mid micron fleece were firm to two per cent dearer, while fine crossbred fleece and shears ranged between two and five per cent stronger.
Coarse crossbred fleece was firm to three per cent dearer, with coarse shears lifting by two to three per cent.
Crossbred oddments were generally up by two per cent.
This week’s high clearance rate reflected strong competition at the sale. Buyers from Australasia, the Middle East, India and China to the fore. Those from Western Europe and the United Kingdom showed support.
Next week’s auction, on 2 September, will be in Christchurch, offering approximately 1400 bales from the North Island and 6700 bales of South Island wool.
Prices Continue to Gain at Wool Sales
19th of August
New Zealand Wool Services International Ltd reports that this week’s wool sales saw a stronger market, with the rise in prices reflecting recent increased demand for prompt shipment.
In the combined auction of North and South Island wool, held in Napier and Christchurch, 93.5 per cent of the 14,000 bales on offer sold.
Since the previous offering on 12 August the New Zealand dollar has remained unchanged against a weighted indicator of the main international wool trading currencies.
According to New Zealand Wool Services International, today’s prices for mid micron fleece were up on last week by between one and two per cent, with fine crossbred fleece rising between 1.5 and three per cent. Fine crossbred shears attracted particular interest, lifting between two and eight per cent.
Coarse fleece was one to 3.5 per cent dearer, while second shears rose between one and four per cent.
All oddments were generally firm, with the better styles strengthening by up to three per cent.
Buyers from Australasia, the Middle East, China and India dominated strong competition at the sales. Interests from Western Europe and the United Kingdom also demonstrated support.
Next week’s auction, on 26 August, will be in Christchurch, offering approximately 1350 bales from the North Island and 6200 bales of South Island wool.
Wool Prices Remain Firm
12th of August
New Zealand Wool Services International Ltd reports that prices at this week’s wool sale were generally firm to dearer.
In the combined auction of North and South Island wool, 86.4 per cent of the 8000 bales on offer sold.
Since the previous offering on 5 August, the New Zealand dollar has fallen by 1.87 per cent against a weighted indicator of the main international wool trading currencies. However, with Western Europe on summer vacation and slightly restricted recent trading activity from elsewhere, the local market fell short of capturing the full currency advantage.
According to New Zealand Wool Services International, interest in the nominal offering of mid micron fleece was strong, with prices increasing between one and four per cent. Finer crossbred wools were also in demand, rising between one and three per cent.
Making up the bulk of today’s offering, coarse fleece and shears were firm to slightly dearer.
Long oddments were up to one per cent stronger, while the shorter types also attracted good support, lifting between two and three per cent.
Buyers from China, India, Australasia and the Middle East were to the fore at today’s sale, supported by interests acting on behalf of Western Europe and the United Kingdom.
Next week’s auction, on 19 August, will be in Napier and Christchurch, offering approximately 7200 bales of North Island wool and 7000 bales of South Island wool.
Wool Prices Hold Firm against Rising Kiwi Dollar
5th of August
New Zealand Wool Services International Ltd reports prices were generally firm at this week’s wool sale, despite a stronger New Zealand dollar.
In the combined auction of North and South Island wool, held in Christchurch, 84 per cent of the 9,200 bales on offer sold.
Since the previous offering on 29 July, the New Zealand dollar has risen by 0.87 per cent against a weighted indicator of the main international wool trading currencies. Although this would normally have seen lower returns at the sale, today’s prices were generally up, especially in US dollar terms, as price improvements continued the trends of recent weeks and reflected the lower than anticipated volumes of wool available.
According to New Zealand Wool Services International, prices for mid micron fleece rose between one and three per cent, while finer crossbred wools were up between one and 2.5 per cent.
Coarse fleece tended firmer, with coarse shears up to one per cent dearer.
End of season first lambs’ fleece strengthened between one and 2.5 per cent, recapturing values lost at last week’s sale.
Oddments ranged from firm to three per cent dearer.
Buyers from China, India and Western Europe were dominated the sale, supported by interests representing Australasia, the United Kingdom and the Middle East.
Next week’s auction, on 12 August, will be in Christchurch, offering approximately 6,500 bales of South Island wool and 2,400 bales of North Island wool.
Wool Wobbles Under Currency Fluctuation
29th of July
New Zealand Wool Services International Ltd reports mixed pricing signals at this week’s wool sales, with some types reacting to recent currency fluctuations, while others continued to increase in value.
In the combined auction of North and South Island wool in Napier and Christchurch, 80 per cent of the 15,500 bales on offer sold.
Since the previous offering on 22 July, the New Zealand dollar was up by 0.62 per cent against a weighted indicator of the main international wool trading currencies. However, the increase was substantially greater than this in the days preceding the sale. Despite this potentially negative influence on the local market, some categories were strongly contested, with prices firm to dearer.
According to New Zealand Wool Services International, fine crossbred fleece and shears were 1.5 to four per cent cheaper
Coarse crossbred fleece was generally firm, with the shear types firm to one per cent cheaper.
First lambs’ fleece was firm to three per cent cheaper
While long oddments ranged from one to two per cent easier, prices for short oddments went in the other direction, varying between two and six per cent stronger.
Buyers from China, India, Western Europe and the Middle East were to the fore at the sale, supported by interests representing Australasia and Asia.
Next week’s auction, on 5 August, will be in Christchurch, offering approximately 7,600 bales of South Island wool and 1,500 bales of North Island wool.
Wool Prices Strengthen
23rd of July
New Zealand Wool Services International Ltd reports that this week’s wool sales generally saw prices rise in what was the first significant quantity of wool offered in the new selling season.
In the combined auction of North and South Island wool in Napier and Christchurch, 85 per cent of the 17,800 bales on offer sold.
Strong demand overcame a 0.89 per cent rise in the New Zealand dollar against a weighted indicator of the main international wool trading currencies since the previous offering on 8 July.
According to New Zealand Wool Services International, a small selection of mid micron wools ranged from firm to 1.5 per cent cheaper, with the long finer crossbred fleece ranging from firm to three per cent easier.
Fine crossbred shears were well sought after, increasing in price by up to four per cent.
Coarse carpet type fleece was up to two per cent dearer, with the second shears strengthening between one and two per cent.
A nominal offering of first lambs’ fleece was up to seven per cent dearer for the long wools while the shorter types remained firm.
Long coarse oddments in the South Island ranged from six to 11 per cent dearer, with the short types rising in price by between one and three per cent.
Buyers from China, India, the Middle East and the United Kingdom dominated widespread competition at the sales, with those representing Western Europe and Australasian carpet mills also providing support.
Next week’s auction, on 29 July, will be a combined sale of North and South Island wool, offering approximately 7,800 bales and 6,700 bales respectively.
Wool Prices Firm as New Season Begins
8th of July
New Zealand Wool Services International Ltd reports that prices for most types firmed at today’s auction of North Island wool in Napier, which was the first sale of the 2010/11 wool season.
Since the previous wool sale, on 30 June, the New Zealand dollar has strengthened in value by 0.7 per cent against a weighted indicator of the main international wool trading currencies, however for most types this had minimal impact on prices.
Of 5,400 bales on offer today, 81 per cent sold.
According to New Zealand Wool Services International, the small offering of finer crossbred shears was well sought after, with prices strengthening between two and five per cent.
While good colour coarse shears, which made up the bulk of the selection, held firm, the average and poor styles fell in price between one and three per cent.
Prices for a nominal offering of lambs’ fleece increased by up to 2.5 per cent. Oddments were also in good demand, with price rises ranging between one and five per cent.
Buyers representing Australasian carpet mills, India and China led demand at today’s sale, receiving support from Western Europe and the United Kingdom.
Next week’s auction, on 22 July, will be a combined sale of North and South Island wool, offering approximately 9,500 bales and 15,100 bales respectively.
Mixed Results at Wool Sales
1st of July
New Zealand Wool Services International Ltd reports that prices at this week’s wool sales were variable, reflecting differing currency fluctuations since the previous sales.
In the combined auction of North and South Island wool in Napier and Christchurch, held on 30 June, 88 per cent of the 14,700 bales on offer sold.
Compared to last week’s offering on 24 June, the weighted indicator ranking the New Zealand dollar dropped against the main international wool trading currencies by 2.55 per cent. According to New Zealand Wool Services International, at the North Island sale, this effect helped increase the price of fleece and shears by one to two per cent and short oddments by 1.5 to 3.5 per cent, while prices for lambs’ wool was marginally softer.
Meanwhile for the South Island selection, where the previous offering was on 17 June, the weighted currency factor was 0.58 per cent in favour of the local market. However, due to the range of types on offer, there was greater price variation in the South Island, despite this.
Mid micron fleece and fine crossbred wools were 1.5 to 4.5 per cent easier with end of season lambs’ wool one to 2.5 per cent softer.
South Island wool types in the carpet sector retained their price strength better, with coarse fleece and shears increasing up to one per cent.
Buyers from Australasian carpet mills, the Middle East and the United Kingdom were to the fore among widespread interest at today’s sales, supported by India, China and Asia.
Next week’s auction, on 8 July, will be in Napier only, consisting of 7500 bales of North Island wool.
Wool Prices Withstand Rising New Zealand Dollar
23rd of June
New Zealand Wool Services International Ltd reports that prices at today’s auction of North Island wool in Napier generally saw a limited offering met by a firm to stronger market.
Since the previous wool sale, on 17 June, the New Zealand dollar has strengthened in value by two per cent against a weighted indicator of the main international wool trading currencies, however buyer demand overcame what would normally have been a negative currency factor.
Of 6,000 bales on offer today, 80 per cent sold.
According to New Zealand Wool Services International, prices for fine crossbred types were generally firm.
While good and average style coarse fleece wool was firm to one per cent dearer, the poorer styles were affected by the currency factor and softened by up to two per cent.
Coarse shears ranged from buyers’ favour to one per cent dearer.
First lambs’ fleece generally rose in price by up to two per cent.
Prices for short oddments strengthened between one and two per cent.
Buyers representing Australasian carpet mills, India and China led demand at today’s sale, receiving limited support from Western Europe and the United Kingdom.
Next week’s auction, on Wednesday 30 June, will be a combined sale of North and South Island wool, offering approximately 4,000 bales and 11,000 bales respectively.
Wool Prices Benefit from Supply Disruption
17th of June
New Zealand Wool Services International Ltd reports that prices improved for most types at today’s wool sales, despite a stronger New Zealand dollar.
In the combined auction of North and South Island wool in Napier and Christchurch, 72 per cent of the 8700 bales on offer sold.
Against the weighted indicator of the main international wool trading currencies, the New Zealand dollar was 1.87 per cent higher than the previous sale on 3 June. While this would normally have pushed local prices down, supply reduction following recent winter weather buoyed prices and overcame the negative currency influence.
According to New Zealand Wool Services International, a nominal offering of mid micron fleece, 26 to 31.5 micron, was one to two per cent dearer, with the fine crossbreds rising by up to two per cent.
Second shears strengthened in price between one and three per cent, with first lambs’ wool also increasing within a similar range.
Combing oddments ranged from one to five per cent stronger, with the poorer styles appreciating the most.
Short oddments were firm to three per cent dearer.
Competition at today’s sales was well spread with buyers from China, India and the Australasian carpet mills to the fore, supported by the Middle East, Western Europe and the United Kingdom.
Next week’s auction, on 24 June, will be in Napier only, consisting of 5700 bales of North Island wool.
Prices Up as Wool Market Regains Control
3rd of June
New Zealand Wool Services International Ltd reports that prices for most types at today’s wool sales were up, despite an unfavourable currency movement.
In the combined auction of North and South Island wool in Napier and Christchurch, 78 per cent of the 14,250 bales on offer sold.
Although the weighted indicator ranking the New Zealand dollar against the main international wool trading currencies was 1.76 per cent higher than the previous sale on 27 May, which would normally have a negative impact on local price levels, interest in the bulk of today’s offering was stronger than anticipated.
According to New Zealand Wool Services International, a nominal offering of mid micron fleece, between 27 and 30.5 micron, strengthened two to four per cent, with prices for the fine crossbreds increasing between 1.5 and 3.5 per cent.
Finer carpet type fleece wools were strongly contested, gaining in price by six per cent. Coarser good colour fleece rose by up to four per cent, with the other styles generally firm. Coarse shears ranged from firm to five per cent dearer, with poorer styles in the North Island benefiting the most.
Prices for combing lambs’ fleece ranged from firm to one per cent down. A small selection of fine short lambs’ wool was subject to intense competition, with prices ranging from four to 15 per cent dearer, amongst which the lots in the South Island benefited most. Shorter, coarser lambs’ fleece was firm to two per cent stronger.
Oddments were all firm to three per cent dearer.
Buyers from China, India and the Middle East dominated widespread interest at today’s sales, with support demonstrated by the United Kingdom and Australasian carpet mills.
With next week’s scheduled sale cancelled due to the recent poor weather throughout the country, the next rostered wool auction will be a combined sale of North and South Island wool, in Napier and Christchurch, on 17 June, offering approximately 9,000 bales and 10,000 bales respectively, weather permitting.
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