NZ wool sale proves a bloodbath

Nearly 40% of wool on offer at last week's combined North and South Island sale - the largest of the season - failed to sell in what proved to be a bloodbath for vendors.

But the story was a bit rosier for fine wool at Thursday's Melbourne wool sale, the average greasy price rising from 891c a kilogram to 967c.

At the New Zealand sale, with a strengthening currency eroding returns for crossbred wool, limited demand and a large offering of 29,641 bales, prices eased for virtually all wool on offer.

A report by Wool Services International said compared with the sale two weeks ago, fine crossbred fleece was 3.5% to 7% cheaper, and some types were up to 11% cheaper.

Good-coloured crossbred fleece was 2.5% to 8% cheaper, some poorer types falling by 7% to 9%.

Coarse second-shear and first lamb's fleece fell 5% to 9% and oddments by 4% to 10%.

The only wool to firm in price was fleece which was slightly off-style: it was 1% to 2% dearer.

The next crossbred sale will take place in Christchurch on April 2, with 7000 bales on offer.

In Australia, compared with the previous Melbourne fine wool sale on February 18, prices rose last week on the back of growing demand, ignoring the impact of a stronger currency.

New Zealand Merino reports that the catalogue contained predominantly hogget wools of 15 to 17 micron, much of which were passed at previous sales but were sought after by buyers.