Crossbred wool prices remain about 200c/kg clean above where they sat a year ago, despite a sharp drop at the latest sale, PGG Wrightson national wool auction manager Dave Burridge says.

He says the market climbed too fast through the first half of the year.

“There was always a risk that it got overheated.”

In nearly 45 years in the business, he has not seen this level of volatility.

He says India and China are showing signs of re-entering the market.

The first Merino sale is on 20 August, with strong competition expected for 18 to 23 micron types.

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