Radio New Zealand - Te Reo Irirangi o Aotearoa

Higher wool prices at South Island sale

Updated at 12:04 pm on 2 May 2009

Wool prices generally strengthened at Thursday's South Island wool sale in Christchurch, thanks to a strong interest from Chinese buyers.

Wool Services International says increased recent demand in wool markets provided a boost, benefitting categories suitable for manufacture in China and wool types destined for the carpet sector.

Of the almost 14,000 bales on offer, 85% sold.

The price of a small selection of finer mid micron wools strengethened by up to 20%, while the coarser microns lifted between 2% and 4%.

Crossbred fleece micron prices were up between 2% and 3%, and fine crossbred shears gained 4% to 7%.

Lambs' fleece were strongly contested, gaining between 7% and 12%, carpet type fleece was firm to 3% more expensive and coarse shears strengthened up to 6%.

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