7 Sep 2012

Wool prices continue their recovery

10:20 am on 7 September 2012

Wool prices at this week's North Island sale have continued the slow recovery seen over the past month.

The exporter New Zealand Wool Services International says a softer New Zealand dollar and a slight increase in demand combined to lift prices by up to 3% for most wool types.

Of the 8400 bales put up for auction 85% were sold.

Good coloured crossbred fleece lifted by up to 2% and early shorn and second shear wools by up to 3%.

However, crossbred oddments declined by as much as 5%, in line with prices they were fetching at the last North Island wool sale in mid-August.