Smith finished 7 seconds later, with a further 12 seconds to 2012 World title winner, Scotland international and Taranaki farmer Gavin Mutch.
Napier shearer Ricci Stevens continued his response to missing a place in the Golden Shears senior final by winning his second title in the two outings since.
He had a half-minute advantage over Golden Shears winner Connor Puha, of Kimbolton, and ultimately won the event by half-a-point.
Chris Dickson, of Masterton, climbed into New Zealand championships contention by winning the intermediate final, while Northern Hawke's Bay shearer Atawhai Hadfield did likewise by claiming another junior title.
Results from the Waimarino Shears at Raetihi on Saturday, March 16, 2019:
Open final (20 sheep): Rowland Smith (Maraekakaho) 16min 48sec, 57.95pts, 1; Gavin Mutch (Scotland/Whangamomona) 17min, 62.75pts, 2; Murray Henderson (Halcombe) 17min 41sec, 64.3pts, 3; Paerata Abraham (Masterton) 16min 43sec, 72pts, 4.
Senior final (10 sheep): Ricci Stevens (Napier) 11min 7sec, 42.95pts, 1; Connor Puha (Kimbolton) 11min 37sec, 43.45pts, 2; Simon Goss (Kimbolton/Mangamahu) 12min 35sec, 44.35pts, 3; Sean Gouk (Masterton) 12min 47sec, 52.65pts, 4.
Intermediate final (8 sheep): Chris Dickson (Masterton) 10min 30sec, 42.25pts, 1; Kyle Mita (Masterton) 11min 30sec, 53.5pts, 2; Reuben Alabaster (Taihape) 11min 19sec, 43.575pts, 3; Daniel Biggs (Mangamahu) 12min 45sec, 44.825pts, 4.
Junior final (4 sheep): Atawhai Hadfield (Ruakituri) 7min 14sec, 31.45pts, 1; Topia Barrowcliffe (Piopio) 7min 13sec, 32.65pts, 2; Matthew Smith (Otorohanga) 9min 10sec, 36.75pts, 3; Levi King (Motu) 7min 56sec, 40.05pts, 4.