A weaker New Zealand dollar and restricted supplies, coupled with renewed overseas buying, saw prices rebound dramatically at the wool sale in Christchurch this week.
Crossbred fleece was up 7% to 11%.
The large lift was "totally unexpected" but shipping requirements to meet, volumes of wool slightly back on roster and the depreciating dollar all had an influence on the market, Roger Fuller, of Elders Primary Wool, said. The NZ dollar was trading down at US75.22c.
Good-style fleece (31-35 micron) lifted 5%, with an average clean price of $5.45 a kg.
Good style full length crossbred fleece (35-39 micron) was up to 10% dearer with an average clean price of $5, while poorer styles lifted 11% at $4.75.
Second shear fleece (75mm-125mm) was 7%- 9% up with an average clean price of $4.67, while second shear (50mm-100m increased 3%-4% with an average clean price of $4.25, on a limited offering.
Longer lambs wool was 2%-3% dearer, with an average clean price of $5.60 and shorter-length lambs wool (50-100mm) was 2% dearer at $5.30.
Mid-micron fleece was fully firm for all types, Dave Burridge, of PGG Wrightson Wool, said.
There was wider-spread competition, dominated by China, India, Western Europe and Australasia, and supported by the United Kingdom and the Middle East, New Zealand Wool Services International's general manager, John Dawson said.
