NEW ZEALAND MARKET REPORT

Summary

Merino market rises.

Comment

The South Island had another good offering of fine wools and halfbreds this week with some good quality clips available.  The market followed the same upward trend seen in Australia over the past two weeks with gains of up 10% over most microns with 18.0 micron experiencing even greater gains when compared to the last Christchurch sale.  Substantial gains were also seen across oddments types also in the region of 10%.  Halfbred types also enjoyed a rise in the market with some types increasing by up to 10%.

NEW ZEALAND MARKET REPORT

Summary

Merino market mixed.

Comment

The South Island had a good offering of finer wools and halfbreds this week with some good quality clips available.  18.5 micron and finer attracted keen competition with the odd lot extreme.  19.0 to 22.0 micron however were up to 8% cheaper on the back of the losses seen in Australia last week.  Mid-micron wools were up to 3% cheaper with finer mid-micron wools most affected.

NEW ZEALAND MARKET REPORT

Summary

Good offering of finer wools this week

Comment

The South Island had a good offering of merino and halfbred wools this week.  Halfbreds suffered from a lack of support this week and dropped significantly compared to the last sale in Christchurch.  The offering of merino wool was the first reasonable quantity that we have seen here this season.  These wools were well supported and attracted keen competition from a range of buyers.  Prices were in line with what we have seen in Australia with good lines keenly sought after.

NEW ZEALAND MARKET REPORT

Summary

Still limited offering of finer wools.

Comment

The South Island had a good offering of halfbred wool this week, but only a few lots of merino.  Halfbreds struggled to maintain last week’s levels and dropped by 2 to 7% with 24.0 to 27.0 micron most affected.  The few lots of merino were well supported with better lots being sellers favour when compared to the Australian sales this week.

NEW ZEALAND MARKET REPORT

Summary

Still limited offering of finer wools.

Comment

There was a useful selection of early season prelamb shorn halfbreds in this weeks offering.  Some of these wools were affected by the market drop seen in Australia this week in Australia’s first sales back from recess.  Finer halfbreds eased by 3 to 6% and many of these were passed in for failing to meet the grower’s reserve.  However 27 to 29 micron were stronger when compared to the last sale held in the South Island.  There was only a very small number of merinos on offer this week.

NEW ZEALAND MARKET REPORT

Summary

Still limited offering of finer wools.

Comment

Minimal fine wools on offer this week but a small offering of mid-micron wools available.  The market today in the South Island was mixed but generally 26.0 micron and finer were par to sellers favour while wools coarser than 26.0 micron were buyers favour with the exception of 29.0 micron wools which were up to 5% dearer.  Passings were at 10%.

NEW ZEALAND MARKET REPORT

Summary

Limited finer wools available.

Comment

The selection this week saw some good quality mid-micron pre-lamb shear wools being offered.  While the selection was still limited these wools saw a lift in price for those who decided to sell.  However passings of these wools types was relatively high as growers continue to come to grips with the lower levels when compared to 12 months ago.

NEW ZEALAND MARKET REPORT

Summary

Market continues to align with Australian levels.

Comment

The South Island auction this week featured the beginning of mid-micron wools on offer and also a selection of early shorn merino wools and crutchings.  However the offering was again affected by a large number of lots withdrawn prior to the sale or passed in for failing to meet grower reserves as the market continues to show downward momentum and maintains levels similar to those seen in Australia.

NEW ZEALAND MARKET REPORT

Summary

Market finds a new level.

Comment

The market appears to have found its level in recent weeks and as a consequence moved within a small price range for coarser wools.  There was also a small offering of mid micron wools available today which showed a dramatic readjustment on last levels which were several months ago.  Competition was keen at these levels.  Again the selection was a reflection of what we would normally see earlier in the season as wools that came in over the lockdown period are only being offered now and the rostered offering is limited in quantity.  Again there were quite a large number of withdrawals prior to the sale and passings were at 20% where wool failed to meet grower’s reserves.

NEW ZEALAND MARKET REPORT

Summary

First South Island sale post lockdown.

Comment

This week saw the first wool sale in the South Island since the country went into lockdown at the end of March due to the Covid-19 virus.  The selection at this week’s sale was a reflection of wools that were available at the end of March as brokers work through the the wools that have come into their stores during the lockdown period.  As a consequence there was a larger selection of crossbred shears on offer than we would normally see at this time of year.  While the market is still trying to find a level, it was firm on last week’s sale in the North Island.  There were quite a large number of withdrawals prior to the sale and passings were 34% where wools failed to meet grower’s reserves.