About 5500 annual-draft ewes came off the high country to Omarama in very good condition for the late February sale, and recorded a top price of $97, compared with last year’s top of $62, PGG Wrightson South Canterbury-based agents Joe Higgins and Jonty Hislop reported.
The top lines sold from $83 upwards, mediums from $72 to $82, and this year there were no lines under $68 a head.
The market moved on to Tekapo the same day for a yarding of 7500 ewes, and prices took another step up, with a top of $166 for a six-year ewe, with a five-year at $155, four-year at $133, and a line of two-tooths at $140. The remainder of the top cuts made $95 to $110, and mediums were in the $85-$95 range.
The Tekapo prices were at a premium because several of the high-country properties supplying stock have good access to irrigation, so the weights were higher, Hislop said. As well, ewes from Balmoral Station and The Wolds Station in the Mackenzie country are traditionally sought-after and some buyers coming from the Omarama sale without the numbers they were after soon bid the prices up.
“Having 15-micron to 18-micron wool selling in the $18/kg to $22/kg range makes a big difference to the aggression on the buying bench.”
The ewes will have 2kg to 2.5kg of wool on them now, and will build up to 3.5-4kg by pre-lamb shearing in August-September.
“That’s $75 to $80 for a start, and then you’ve got the value of the lamb.”
Prices of six-year Merinos, at about $160 were “getting up there, and as good as you’ll see in a wee while”.
Buyers at that level would likely be going into a breeding programme or at least want two good years of breeding to complement the wool value.
Most of the buyers were topping up on their flock numbers, and others rebuilding.
Irrigation is a major factor in the market, Hislop said. Not only are ewes coming to the fairs in better condition because of it, irrigation also allows those properties to increase their own carrying capacity, so they are selling less.
Yardings now could be half of what they were four to five years ago, leaving a demand-supply issue.
Buyers were from the traditional Merino farming areas from Central Otago through to Marlborough.
The ewe fairs came a week after very good prices for Merino lambs at Omarama and Tekapo.
These two ewe fairs wrap up the big sales, but there would be some farm sales for a while yet, Hislop said.
