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.