One of the biggest seasons in New Zealand shearing sports has begun with the national Merino Championships in the Central Otago town of Alexandra today and tomorrow.

Managing ewes for maximum survival and profitability is underpinned by four key profit drivers, says Australian livestock consultant San Jolly.

Exclusive collections of fabrics and knitwear now being launched in the UK trace back to a very small but stroppy sheep farmed in the South Island and parts of Australia.

Despite a strengthening NZ dollar, the varied selection at this week's South Island auction attracted strong support.

With five million calves expected in the next eight weeks, it is a busy season for Christchurch firm Woolover, which makes wool covers for calves, lambs and kids, and for adult animals.

The North Island wool auction received revived support this week with an improved 81% of the 5700 bales selling.

Three of New Zealand's leading independent wool brokers seek to reassure growers that the disappointing sale last week is likely to be a blip due to a perfect storm of events.

The more varied offering at this weeks' South Island auction saw targeted buying with better demand for the longer wools.

The ongoing fallout from the Brexit result, continued minimal activity from China and a strong New Zealand dollar have compounded to make significant inroads into local wool values.

The strong dollar, restricted off-shore interest and high volumes of one wool category on offer this week saw local prices ease.