South Island wool sale prices increase across board

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Wool prices for all types showed positive signs, with price increases across all categories at the South Island wool sale, brokers say.

With 30% of the offering lambs wool, competition was strong. There was also plenty of competition from buyers for good colour fleece, Roger Fuller, of CP Wool, said.

A small offering of mid-micron and merino wool again attracted good competition, especially merino oddments and merino second shear.

The sale was one of the better ones since January and had a passing rate of about 6%, Mr Fuller, said.

PGG Wrightson Wool's South Island sales team said a lesser amount of wool than was rostered, combined with a lower dollar, meant buyers had to be very active to secure wool for orders.

The good growing season in most regions resulted in most wool types being offered in good order.

The Ministry for Primary Industries' latest Situation and Outlook for Primary Industries forecast said the crossbred wool market was still struggling with few indications of an imminent rebound.

Export volumes were rising but there were still large inventories built up from the previous season and demand for crossbred wool remained low.

The gulf between strong and fine wool had continued to widen over the past few months.

Fine wool prices were currently four to five times higher than crossbred. More than 77% of New Zealand's wool export volume was crossbred.

A range of prices:

R G and S M Morris (Dunedin), three bales Perendale lambs AA, 28.6 micron, 78.7% yield, 478 greasy, 607 clean; M I and C E McKerchar (Tapanui), 12 bales crossbred lambs AA, 29.3 micron, 81.9% yield, 460 greasy, 562 clean; J A and R M Thomson (Palmerston), 11 bales fine Perendale AA, 35.2 micron, 76.1% yield, 262 greasy, 344 clean; Gillespie Family Trust (Oturehua), five bales crossbred AA, 36 micron, 77.8% yield, 259 greasy, 333 clean; Summerhills Ltd (Middlemarch), four bales crossbred lambs AA, 28.9 micron, 78.4% yield, 440 greasy, 561 clean; Delmont Ltd (Clinton), 31 bales Perendale lambs AA, 29.9 micron, 81.3% yield, 418 greasy, 514 clean; Linlithgow Ltd (Otago), 21 bales Romney, 37 micron, 75.6% yield, 262 greasy, 346 clean; R and J Tweed (Otago), 28 bales Romney, 38.2 micron, 75% yield, 261 greasy, 348 clean; Roy Partnership (Otago), 45 bales crossbred AA, 39 micron, 78.1% yield, 264 greasy, 338 clean; K and K Blair (Otago), four bales crossbred second-shear, 39.3 micron, 80.9% yield, 261 greasy, 323 clean; Strathavon Ltd (Otago), 15 bales crossbred lambs, 30.4 micron, 77.8% yield, 404 greasy, 519 clean; D R Brown and Sons (Otago), 14 bales Romney lambs, 30.5 micron, 75.4% yield, 386 greasy, 512 clean; Pendella Farm (Ranfurly), four bales merino second-shear, 15.9 micron, 65.2% yield, 1700 greasy, 2607 clean; H McKay (Middlemarch), two bales merino lambs, 19.3 micron, 76.1% yield, 1251 greasy, 1643 clean.