Crossbred prices lift by up to 3%; merino market still erratic

Prices for crossbred wool lifted up to 3% at the wool sale in Christchurch last week.

It was good to see the crossbred market "beginning to head in a positive direction", although market conditions were still very difficult, Roger Fuller, of Elders Primary Wool, said.

The merino market continued to be very erratic for certain micron categories, although the quality of wool coming forward continued to be outstanding, which was creating some very good competition among exporters, Mr Fuller said.

Shorter-stapled hogget wools dropped by up to 3%, while mid-micron wools (22 to 25 micron) were up to 5% cheaper and 26-29 micron up to 6% cheaper.

A full bench of buyers competed strongly for merino wool, which was quoted up to 3% dearer than the previous week's Australian market, he said.

Competition was dominated by China, with support from Western Europe, Australasia and India.