Prices rose marginally at last week's sale of New Zealand merino wool in Melbourne, boosted by the high quality of the wool offered.
New Zealand Merino (NZM) commercial manager Keith Ovens said the exceptional quality of the 3300-bale offering was acknowledged by valuers and buyers, with some saying it was the best they had seen in 30 years.
Mr Ovens said its strength, length and bright colour reflected the exceptional growing season.
But prices improved only marginally from the last Melbourne sale of New Zealand merino wool, the sale average for all wool rising from 850 cents a kg to 900c a kg despite unfavourable exchange rates.
The passing rate was 9%.
The market peaked at the same sale a year ago with an average of 1300c a kg.
A feature of the sale was prices for oddments - pieces, bellies, backs and necks - which were up to $2 a kg better than the last New Zealand sale.
Mr Ovens said a new buyer, the Queensland Cotton Company, dominated purchases from the New Zealand catalogue, buying more than 600 bales, which he said would be processed and promoted as New Zealand merino wool.
The company was brought to New Zealand by NZM and it has slowly increased its purchases.
A further sale of 3000 bales would be held next week.