Prices firmed at yesterday's wool sale in Christchurch, despite a rising New Zealand dollar over the past week.
The impact of a resurgent dollar was negligible as short supply combined with steady demand to drive prices up, New Zealand Wool Services International general manager John Dawson said.
While mid micron fleece finer than 26 micron again strengthened in price, rising by up to 2%, the 27 to 30 micron group ranged from firm to 2% easier.
Prices for 30 to 31.5 micron fleece rose between 1.5% and 3%, while fine crossbred fleece and shears were firm to 1.5% dearer.
The first substantial offering of merino wool drew strong demand from a full bench of buyers. The quality of wool on offer would be some of the best seen for many years which created strong bidding from exporters, Roger Fuller, of Elders Primary Wool, said.
Italian buyers were very active, as were European and Chinese buyers. Prices were on a level with the recent Australian sales, with some micron categories slightly higher.
Of the 7800 bales on offer, 86% sold. Competition was well spread with Australia and New Zealand taking leading roles, while Western Europe, India and the Middle East provided support.
A range of prices.-Mt Brown Partnership (Wanaka), one bale of fine merino, 17.2 micron, 68.7% yield, 1860 greasy, 2707 clean; A. Parcell (Cromwell), two bales of fine merino, 18.1 micron, 68.6% yield, 1600 greasy, 2332 clean; Maungawera Partnership (Wanaka), two bales of fine merino, 19 micron, 70.2% yield, 1372 greasy, 1954 clean, and nine bales of fine merino, 20.9 micron, 75.2% yield, 1375 greasy, 1828 clean; R. J. and J. M. Blakely (Ranfurly) crossbred AA, 17 bales, 35.4 micron, 78.3% yield, 528 greasy, 674 clean; Stoneburn Station (Otago), 34 bales Romney AA, 36 micron, 78.3% yield, 522 greasy, 666 clean; Awakiki Ridges (Balclutha), 58 bales Perendale AA, 36.6 micron, 80.5% yield, 532 greasy, 660 clean; Moa Flat Downs Ltd (Tapanui), 50 bales crossbred AA, 37.4 micron, 79.6% yield, 526 greasy, 652 clean; Charles Hope Farming (Oamaru) 13 bales Perendale hogget AA, 30 micron, 75.8% yield, 567 greasy, 748 clean; P. H. and D. O'Neill (Ranfurly), 52 bales crossbred AA, 32.3 micron, 79.6% yield, 559 greasy, 702 clean, and 20 bales halfbred AA, 27.6 micron, 77.9% yield, 687 greasy, 882 clean.
