Italians pre-buy merino wool

Merino sales were boosted again by 450 bales pre-sold before the auction began at Melbourne.

The pre-sales were part of a five-year, $45 million deal by the New Zealand Merino Company (NZM) to supply fine wool to Italian luxury fabric manufacturer Successori Reda. The Reda bales averaged a greasy price of $15 a kilogram.

That left 2000 bales, which averaged the same price as the last sale several weeks ago of $11/kg, including oddments. About 11 per cent of this offering was passed in after failing to meet reserve prices. NZM commercial manager Keith Ovens said the 450 bales withdrawn for the Reda contract provided another good boost for farmers and the remaining bales met a strong sale. He said finer merino had a better result than two weeks ago.

‘‘There was good competition for 15,16 and 17 microns [fleece], but still nowhere near what it used to be and they are still at a discount to the 17,18 and 19 types and that is where the biggest demand is still.’’

Ovens said the sale revealed a margin gap for any fine wool showing tenderness, faults or colour issues and this might be a warning signal for hogget shearing in the coming months. ’’But there is demand for the good quality wool led by the Europeans and the Italians. Some of the poorer types of the Chinese type wools are subdued although some of the topmakers got into the pieces.’’

Sales, included: Super, fine, extra, fine and fine adults - HIlltop Downs, Roxburgh, 2, 16.0, 68.4, 1226, 1792, M In Diamond, Moutere, 1, Alexandra, 16.2, 70.4, 1227, 1743, Tara Hills, Timaru, 6, 16.3, 68.8, 1196, 1738, Coresus, Oturehua, 3, 16.3, 72.1, 1252, 1736, Longacre, Tarras, 2, 16.5, 67.6, 1164, 1722, M In Diamond, Moutere, Alexandra, 4,16.8, 72.5, 1247, 1720, Coresus, Oturehua, 6, 17.0, 68.8, 1188, 1727, Crawford Hill, Alexandra, 2, 17.1, 72.1, 1263, 1752, Stonehenge, Ranfurly, 5, 17.2, 72.2, 1257, 1741, M In Diamond, Moutere, Alexandra, 5, 17.4, 70.3, 1212, 1724, Carrickburn, Cromwell, 2, 17.5, 68.3, 1181, 1729, The Rocks, Middlemarch, 4, 17.6, 72.8, 1243, 1707, Olrig, Omakau, 6, 17.7, 69.5, 1193, 1717, Waitangi/S, Kurow, 3, 17.7, 71.0, 1216, 1713, Walter Peak, Queenstown, 6, 17.7, 79.6, 1342, 1686, Cecil Peak, Queenstown, 7, 17.8, 77.0, 1283, 1666, Lindis Peaks, Tarras, 4, 17.9, 67.9, 1158, 1705, Roseneath, Kurow, 4, 18.1, 70.9, 1205, 1700, Longacre, Tarras, 3, 18.3, 69.2, 1188, 1717, Avalon, Wanaka, 5, 18.3, 72.8, 1222, 1679, Braeside, Oturehua, 3, 18.3, 73.5, 1233, 1678.