The market remains optimistic in the face of price slips in forestry exports, as inventories continue to fall on key Chinese ports, AgriHQ analyst Emma Dent says.
The wharfgate price increased slightly this month and was now sitting at $83 per tonne, up $1 per tonne from the previous month.
"This comes despite the in-market price dropping to a new low," Ms Dent said.
"The increase in wharfgate pricing is due both to a combination of a low New Zealand Dollar and reduced shipping rates aiding returns to exporters.
"However, there is also optimism entering the market despite the in-market price slipping. Inventories continue to fall on key Chinese ports, with volumes now sitting around 3 million cubic meters.
"As a result most market participants expect increases in export prices, both in-market and at wharfgate, for November."
The Chinese market was volatile so it was a "wait-and-see" situation, she said.
"Price improvements are generally expected, but in February ports will close again for Chinese New Year, which is expected to result in a build-up of inventories again."