The chill winds of the global financial downturn buffeted last week's sale of merino wool in Melbourne.
More than half the New Zealand offering was passed in at auction, but much of it has since been sold.
New Zealand Merino commercial manager Keith Ovens said fine wool less than 16.5 micron and spinner's quality wool sold well, but hogget and types stronger than 17.5 micron struggled.
Buyers stood back, given the international financial turbulence, but the fluctuating exchange rate also caused some disruption.
During the week Mr Ovens said the New Zealand-Australia exchange rate moved 10% to 12%.
The average price was 1310c a kilo, compared to 1380 at the previous sale.
Large quantities of New Zealand wool would be offered at the next two Melbourne sales.