Last week was a good one for the wool industry, with prices firming for both crossbred and fine wool on both sides of the Tasman.
Wool Partners International auctioneer Dave Burridge said in the case of crossbred, prices had returned to pre-recession levels while prices for the finer edge of New Zealand merino wool were about $1 a kg ahead of comparable Australian wool.
New Zealand Merino commercial manager Keith Ovens said the average price for all 1300 bales of New Zealand merino wool sold in Melbourne was 1158c a kg, 15% ahead of a year ago.
Wool finer than 17.5 micron was the big mover last week while the strong end eased about 30c a kg.
Mr Ovens said the market was helped by shearing delays in both New Zealand and Australia.
In Christchurch, crossbred fleece, 35 and 36 micron, rose between 4% and 6% compared with the sale a week earlier, second-shear wool was between 5% and 8% stronger and oddments rose a staggering 10%.
Mr Burridge said current crossbred prices were averaging 35% more than last season helped by buyers having to fill orders.
A limited offering of mid micron fleece wool rose 2%.