Higher price paid for fine wool

Keith Ovens
Keith Ovens
Prices for fine wool at last week's sale of New Zealand wool in Australia were nearly a third higher than at the same sale last year.

New Zealand Merino commercial manager Keith Ovens said the sale of 3000 bales of New Zealand wool was the largest this year, and just 2% was passed in by sellers for failing to reach their reserve.

The average price over the whole sale was 1188c a kg compared to 908c a kg for the same sale a year ago.

All wool types strengthened in price compared to the sale two weeks ago, with demand for 17 to 18 micron wool especially keen, while prices for 15 to 16 micron wool held their value.

Mr Ovens said that strong demand spread over to competition for necks, backs, bellies and pieces as buyers filled containers, with one line of 18 micron backs rising in price by $2 a kg and selling for 1678c a kg.

Traditional European and Italian buyers dominated, with the New England mill buying 31%.

"Everything across the board was rock solid," he said.

In two weeks 3500 bales will be offered.

 

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