Chch wool sale: prices firm amid large offering of Merino
A HIGHCLASS offering of prelamb fleece meant prices firmed for most styles compared with the previous Christchurch wool sale, held on August 30.
PGG Wrightson staff said of note was the large offering of merino wool, which continued to break new ground by reaching levels not seen in a generation.
Strong global interest shown for those wools reflected the lack of supply coming out from Australia due to the significant drought affecting wool quality.
Midmicron wool prices cooled off after a period of strong activity.
The drop in crossbred wools being put forward meant the market strengthened slightly for those types.
Compared with the previous Christchurch sale, crossbred fleece 30 micron to 35 micron was 3% to 4% more expensive. The finer wool was the most affected.
Crossbreed fleece 35.1 micron and stronger was 1% to 2% more expensive. Crossbred secondshear wool was 1% to 2% more expensive; crossbred oddments were unchanged.
Midmicron wool of 23 micron to 28 micron was up to 5% cheaper and 28.5 micron to 30 micron wool was unchanged.
Merino wools were up to 6% more expensive and there was ‘‘extreme bidding’’, particularly on finer wool.
Of the offering, 12% was passed in after failing to reach grower reserves. The NZD/USD cross rate was US65.6c, compared with the last sale of US67.1c.
The next sale was scheduled for September 27.
A range of prices. — AJ Gorton (Taieri Mouth), 25 bales, Perendale AA, 36.5 micron, 78.8% yield, 362 clean, 285 greasy; Strathburn (Middlemarch), 22 bales, crossbred hogget AA, 32.9 micron, 76.4% yield, 493 clean, 377 greasy; Huirapa Partnership (Middlemarch), 21 bales, Romney AA, 36.6 micron, 81.5% yield, 367 clean, 299 greasy; Summerhills (Summerhills), 33 bales, Romney AA, 38.2 micron, 81.6% yield, 386 clean, 315 greasy; RM and JR Hay (Oamaru), 12 bales, Perendale AA, 37.4 micron, 82.5% yield, 378 clean, 312 greasy; KG and FA Thompson (Ranfurly), 13 bales, fine half AA, 23.4 micron, 77.8% yield, 2121 clean, 1650 greasy; GF Dowling (Ranfurly), 4 bales, quarter hogget, 21.7 micron, 76.9% yield, 2367 clean, 1820 greasy; Erindale Farm (Palmerston), 19 bales, fine half AA, 24.7 micron, 79.6% yield, 1837 clean, 1462 greasy; GP Robertson (Wanaka), 8 bales, fine half AAA, 24.7 micron, 73.8% yield, 1747 clean, 1289 greasy; Hamilton Runs (Ranfurly), 12 bales, fine crossbred AA, 32.2 micron, 73.9% yield, 495 clean, 366 greasy; A Carey & Co (Ranfurly), 9 bales extra fine quarter hogget AA, 21.7 micron, 73.8% yield, 2383 clean, 1759 greasy; RW and AJ Naylor (Omakau), 7 bales fine quarter twotooth AAA, 20.6 micron, 74% yield, 2461 clean, 1820 greasy; SH Andrews & Sons (Ranfurly), 26 bales, Merino half AAA, 29.3 micron, 79.3% yield, 864 clean, 685 greasy; Universal Farms (Wanaka), 5 bales, extra fine Merino AAA, 17.3% micron, 70.6% yield, 3173 clean, 2240 greasy; Universal Farms (Wanaka) 1 bale, medium Merino AAA, 18.7 micron, 72.2% yield, 2922 clean, 2110 greasy; Creekside Farms (Ranfurly) 2 bales, fine Merino hogget AAAA, 16.3 micron, 72.1% yield, 3452 clean, 2489 greasy; RK and BA Blackler (Roxburgh), 7 bales, Merino AAAA, 17.7 micron, 71.6% yield, 3212 clean, 2300 greasy.