Positive price trends at North Island wool sale - 21 May 2009
New Zealand Wool Services International Ltd reports prices at today’s auction of North Island wool in Napier showed some positive trends, resisting a stronger New Zealand dollar.
A limited offering of fine and coarse crossbred fleece was in greatest demand, gaining in value between two and six per cent.
Since the previous sale on 14 May the New Zealand dollar has strengthened by 1.1 per cent against a weighted indicator of the main wool trading currencies.
Of 10,349 bales on offer today, 73 per cent sold.
According to New Zealand Wool Services International, only the larger volumes of shears and shorter lamb’s wool on offer succumbed to the negative impact of the stronger currency, with these types easing between 1.5 and four per cent.
Crossbred oddments benefited from stronger interest, increasing by between two and four per cent.
The domestic Chinese hand knitting sector continues to dominate the market. Most other international customers, generally processing wool for carpets, continue to display only limited interest in the face of the international economic downturn.
The next wool auction, on 4 June, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 10,000 and 16,000 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.
| Sale Date: | 21 May 09 | ||
| Total Bales on offer: | 10,349 | ||
| Bales Sold: | 7,566 | 73% | SOLD |
| NZ Wool Services International Wool Indicators | |||||||||||||||||||
| Merino | +/- | Mid Micron | +/- | Fine Crossbred | +/- | Coarse Crossbred | +/- | Lamb | +/- |
||||||||||
| N/A | N/A | 369 | 7 | 290 | 4 | 371 | -10 | ||||||||||||
|
Weighted Currency Indicator
(Base on percentage of wool exported in USD/GBP/AUD/EUR)
|
||
| Last Sale | Current Sale | % |
| 0.5407 | 0.5467 | 1.11 |
| Market Prices (Clean on Floor) | |||||
| MIC | Length | Last Price | Current Price | +/- | |
| Merino Flc | 17 | N/A | N/A | 0 | |
| 19 | N/A | N/A | 0 | ||
| Mid Micron Fic | 28 | 620 | N/A | 0 | |
| 30 | 485 | N/A | 0 | ||
| Fine XBred Fic | 33 | 4/6 | 415 | 418 | 3 |
| Coarse XBred Fic | 38 | 4/6 | 333 | 340 | 7 |
| Coarse Shears | 38 | 3/5 | 327 | 317 | -10 |
| 38 | 3/4 | 321 | 316 | -5 | |
| 38 | 2/4 | 300 | 295 | -5 | |
| Lambs Fleece | 30 | 2/4 | 396 | 396 | 0 |
| 30 | 2/3 | 379 | 376 | -3 | |