Market Generally Steady at North Island Wool Sale
4th of March
New Zealand Wool Services International Ltd reports that today’s auction of North Island wool in Napier saw minimal price changes.
Since the previous wool sale, on 25 February, the New Zealand dollar has barely moved against a weighted indicator of the main international wool trading currencies, leaving demand and shipping capacity restrictions as the main factors influencing the present market.
Of 6,400 bales on offer today, 85 per cent sold.
According to New Zealand Wool Services International, prices for a small offering of fine crossbred wools ranged from one per cent dearer to one per cent cheaper.
Better style coarse crossbred full fleece, available today only in limited quantities, attracted heavy demand relative to other types, strengthening in price by three per cent, with the poorer styles tending sellers’ favour.
All coarse shears remained firm. Finer Lambs’ fleece was firm to one per cent dearer with the coarser types firm to one per cent easier.
Oddments were firm to one per cent dearer.
Main competition at today’s sale was from Australasian carpet mills, India and China, with support from the Middle East and the United Kingdom.
Next week’s auction, on 11 March, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 10,200 bales and 18,200 bales respectively.
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.
Volumes and Shipping Affect Local Wool Prices
25th of February
New Zealand Wool Services International Ltd reports that prices eased for most types at today’s wool sales.
In the combined auction of North and South Island wool in Napier and Christchurch, 81 per cent of the wool on offer sold. However, at 28,000 bales, this offering was 28 per cent above the original rostered quantity, which had an impact on prices.
Compared to the previous sale, on 18 February, the New Zealand dollar has eased in value against a weighted indicator of the main international wool trading currencies, but the increased volumes coming forward neutralised the currency effect. A shortage of shipping capacity, caused by freighting providers slashing their services in response to the global recession, means wool exporters are unable to secure sufficient space, which in turn restricts their ability to purchase wool on the local market.
According to New Zealand Wool Services International, a small offering of finer crossbred fleece resisted this trend and stayed generally firm to six per cent dearer, with the very fine types benefiting the most.
Coarse carpet type full fleece was firm to three per cent cheaper, as were the shorter shears, with the better styles holding their value the best.
First lambs wool types were firm to two per cent easier. All oddments were also firm to two per cent cheaper, with better styles receiving more attention.
Main interest today was from Australasian carpet mills, India and China with buyers from the Middle East, Western Europe and the United Kingdom in support.
Next week’s auction, on 4 March, will be in Napier only, consisting of 6300 bales of North Island wool.
Article Supplied by Wool Services International.
Prices at North Island Wool Sale Fall in Response to Rising New Zealand Dollar
18th of February
New Zealand Wool Services International Ltd reports that prices for most types at today’s auction of North Island wool in Napier eased proportionate to the stronger New Zealand dollar as the market settled back from its significant recent gains.
Since the previous wool sale, on 11 February, the New Zealand dollar has strengthened in value by 1.54 per cent against a weighted indicator of the main international wool trading currencies.
Of 8,600 bales on offer today, 81 per cent sold.
According to New Zealand Wool Services International, prices for fine crossbred shears dropped between 2.5 to 4.5 per cent while lambs’ fleece softened between one and 2.5 per cent.
Coarse fleece and shears ranged from firm to three per cent cheaper, with oddments also between firm and three per cent easier.
A combination of the currency factor, Chinese New Year vacations and increased volumes placed into next week’s wool auctions accounted for the weaker sentiment this week. Main competition at today’s sale was from Australasian carpet mills, India, the Middle East and the United Kingdom, with support from China and Western Europe.
Next week’s auction, on 25 February, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 10,700 bales and 17,000 bales respectively.
Wool Market Stabilises
11th of February
New Zealand Wool Services International Ltd reports that today’s wool sales saw prices for fine types drop, while coarser wools were generally firm to dearer.
Since to the previous sale, on 4 February, against a weighted indicator of the main international wool trading currencies the New Zealand dollar has eased in value by 1.69 per cent. However, this had only limited positive impact on local prices.
In the combined auction of 20,500 bales of North and South Island wool in Napier and Christchurch, 90 per cent of the wool on offer sold.
According to New Zealand Wool Services International, prices for mid micron and fine crossbred wools eased between one and four per cent due to lower demand as buyers from the dominant Chinese market are in recess during their New Year break.
Good style coarse carpet type fleece and shears were firm to 2.5 per cent stronger, with only the poorer styles going in the other direction, softening by up to one per cent.
Demand for first lambs’ wool continues, prices ranging from firm to four per cent higher.
Oddments were firm to four per cent stronger.
Buyers from Australasia, India and the Middle East dominated demand today, although support from China, Western Europe and the United Kingdom was also evident.
Next week’s auction, on 18 February, will be in Napier only, consisting of 7000 bales of North Island wool.
Continued Rise in Price of Wool
4th of February
New Zealand Wool Services International Ltd reports that prices at today’s wool sales continued to rise in response to increased demand.
Compared to the previous sale, on 28 January, the New Zealand dollar has increased in value against a weighted indicator of the main international wool trading currencies by 0.68 per cent. While this would normally have pushed local prices down, strong competition over-rode the currency factor to drive prices for most types higher.
In the combined auction of 14,000 bales of North and South Island wool in Napier and Christchurch, 97 per cent of the wool on offer sold.
According to New Zealand Wool Services International, a nominal offering of merino fleece in the South Island rose in price by two to five per cent, with mid micron fleece up between one and four per cent.
Continued strong demand from Chinese buyers kept the price of fine crossbred fleece and shears trending up: nationally they were 1.5 to four per cent dearer than last week. Coarse crossbred fleece and shears ranged from 2.5 to seven per cent stronger, with greater buyer pressure on the better style wools.
Fine lambs’ fleeces, in limited supply due to the present favourable growing conditions, were in particular demand, rising 10 to 14 per cent, with the coarser types increasing by two to five per cent.
Demand for oddments also continued, pushing prices up between one and six per cent, with the North Island wools gaining the most.
Buyer demand today came from widespread markets. China and Western Europe dominated interest in the merino and mid micron wools. Chinese purchasers were also to the fore in the fine and coarse crossbred wools, receiving strong support from Australasian carpet mills, the Middle East and India and more limited support from Western Europe and the United Kingdom.
Next week’s auction, on 11 February, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 10,000 bales and 9,700 bales respectively.
Demand for Wool Running Ahead of Supply
28th of January
New Zealand Wool Services International Ltd reports that prices at today’s wool sales generally rose across the board on the back of strong demand and a favourable currency factor.
Compared to the previous sale, on 21 January, the New Zealand dollar was down in value by 1.75 per cent against a weighted indicator of the main international wool trading currencies, and has now fallen 3.88 per cent since the previous week’s wool sale.
While the softening dollar helped prices in the local market gains, most wool types also rose in value in addition to the currency movement, driven by increased demand and lower projected future wool volumes.
In the combined auction of 25,000 bales of North and South Island wool in Napier and Christchurch, 94 per cent of the wool on offer sold, with South Island price levels generally edging above comparative types in the North Island.
According to New Zealand Wool Services International, compared to the last time offered, on 14 January mid micron wools increased between two and five per cent.
Fine crossbred fleece and shears, last sold on 21 January were firm to three per cent dearer today, while coarse crossbred fleece and second shears are four to seven per cent stronger.
First lambs wools ranged from 3.5 to five per cent dearer with lamb oddments up 2.5 to four per cent. Combing oddments finished five to seven per cent up on last week, while the shorter oddments rose by between 2.5 to 5.5 per cent.
Competition at today’s sales was well spread across various markets, with Chinese interests continuing to dominate the finer types, particularly lambs’ wool. Coarser wool types received most attention from Australasian carpet mills, China, India and the Middle East, with support from Western Europe and the United Kingdom.
Next week’s auction, on 4 February, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 6,800 bales and 6,000 bales respectively.
Currency Correction Propels Prices at North Island Wool Sale
21st of January
New Zealand Wool Services International Ltd reports that prices at today’s auction of North Island wool in Napier increased, mainly due to the weaker New Zealand dollar.
Since the most recent wool sale, on 14 January, the New Zealand dollar has eased in value against a weighted indicator of the main international wool trading currencies by 2.17 per cent. Combined with strong market interest, this currency effect caused some wool types to appreciate significantly.
Of 9,900 bales on offer today, 94 per cent sold.
According to New Zealand Wool Services International, prices for fine crossbreds of 33 micron were up to 1.5 per cent, dearer with 34 and 35 micron between three and seven per cent stronger.
Coarse carpet fleece and shears ranged from 1.5 to three per cent dearer with the better styles more strongly contested.
First lambs fleece increased dramatically, by between eight and nine per cent, as exporters struggled to meet demand from Chinese manufacturers.
All oddments were two to three per cent dearer.
Competition at today’s auction was strong, dominated in the finer wool types by buyers from China. Australasian carpet mills, India and the Middle East pursued the carpet wool types most vigorously, with support from Western Europe and the United Kingdom.
Next week’s auction, on 28 January, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 11,000 bales and 14,000 bales respectively.
Wool Market Holds Steady
14th January
New Zealand Wool Services International Ltd reports that prices at today’s wool sales generally remained firm or rose slightly compared to last week’s North Island sale.
Compared to that sale, on 7 January, the New Zealand dollar was basically unchanged against a weighted indicator of the main international wool trading currencies.
In the combined auction of 24,000 bales of North and South Island wool in Napier and Christchurch, 86 per cent of the wool on offer sold.
Although the price of South Island wool has weakened in local terms compared to the last time it was under the hammer on 17 December, this fall is attributable to the strength of the New Zealand dollar, which has risen by three per cent since then. Prices of North and South Island wool are now effectively directly comparative and parallel the international market.
According to New Zealand Wool Services International, a limited offering of mid micron wools in the South Island was strongly contested, increasing between 2.5 and 4.5 per cent.
Nationally, fine crossbred fleece 35 micron and finer and longer shears also strengthened by 1.5 to four per cent, with the shorter types remaining firm.
Coarse fleece was firm to one per cent cheaper with shears ranging from firm to two per cent dearer. Early season first lambs wool was firm to two per cent dearer.
Oddments received strong support, with the longer types up to five per cent dearer and prices for the shorter styles rising by two per cent.
Competition at today’s sales was evenly spread across a number of markets: buyers from Australasia, China, India and the Middle East dominated, with support from Western Europe and the United Kingdom.
Next week’s sale will be in Napier on 21 January, comprising approximately 9,950 bales of North Island wool.
High Dollar and Increased Volumes Influence Prices at North Island Wool Sale
7th January
New Zealand Wool Services International Ltd reports that prices at today’s auction of North Island wool in Napier, the first wool sale for 2010, saw most types soften in local price terms.
Increased seasonal wool volumes and a resurgent New Zealand dollar were the main factors influencing prices.
Since the most recent wool sale, on 17 December, the New Zealand dollar has appreciated in value against a weighted indicator of the main international wool trading currencies by 2.57 per cent. For international customers the currency effect resulted in generally firm to dearer prices at today’s sale.
Of 19,000 bales on offer today, 90 per cent sold.
According to New Zealand Wool Services International, prices for fine crossbred fleece and shears generally dropped by two per cent, with good style second shears 1.5 per cent easier and poor styles three to four per cent softer.
Early season short lambs wool of 27.5 micron and finer remained firm, with coarser types down as much as two per cent.
Oddments were firm to 2.5 per cent easier.
Competition at today’s auction was well spread dominated in the finer wool types by buyers from China. Australasian carpet mills, India and the Middle East were to the fore on the coarser wools, with support from Western Europe and the United Kingdom.
Next week’s auction, on 14 January, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 11,300 bales and 13,300 bales respectively.
Prices Ease at Wool Sales
17th December
New Zealand Wool Services International Ltd reports that prices at today’s [released December 17] wool sales eased as a result of higher seasonal volumes and reduced pressure to process urgent pre-Christmas orders.
Compared to the previous sale on 10 December, the New Zealand dollar was unchanged against a weighted indicator of the main international wool trading currencies, making supply and demand the drivers of this week’s sales.
In the combined auction of 22,500 bales of North and South Island wool in Napier and Christchurch, 84 per cent of the wool on offer was sold.
According to New Zealand Wool Services International, apart from some longer fine hogget wools destined for shipment before the Chinese New Year, which rose in price between 1.5 and four per cent, prices for most other categories eased.
A nominal offering of finer mid micron fleece held firm, while 28 to 31 micron sold at six to nine per cent cheaper.
Finer short hogget shears were firm to three per cent cheaper, with the coarser end easing between two and six per cent.
Good style coarse fleece dropped in price by between one and 2.5 per cent, with poorer styles 4.5 to six per cent softer as a result of larger volumes becoming seasonally available.
Coarse shears ranged from firm to six per cent easier, with the shorter types most affected.
A small offering of long oddments was firm to 4.5 per cent dearer, with good style short oddments firm to six per cent stronger. Poorer styles ranged from firm to down two per cent.
Competition at today’s sales was well spread, with China dominating the finer types. Buyers from Australasian carpet mills, India, the Middle East, Western Europe and the United Kingdom supported the carpet type wools.
With today’s sales the final wool offering for 2009, the next sale will be in Napier on 7 January 2010, comprising approximately 17,000 bales of North Island wool.
Advertisment