15 May 2009

Wool prices bolstered by China

6:06 am on 15 May 2009

Continued Chinese interest bolstered prices for some wools at the South Island sale on Thursday.

But a stronger New Zealand dollar nibbled away at prices for carpet wools.

New Zealand Wool Services International reports that a small offering of mid micron fleece attracted some of the strongest bidding. It rose by 4% - 8% on April prices.

First lambs' fleece was also in demand, gaining 3% - 5%. Prices for 32-34 micron crossbred fleece rose by up to 2.5% on last week. But coarser types dropped by up to 3%.

Full-length carpet fleece eased by up to 4%. It made up a quarter of the offering, as a result of previously unsold wool being put back on the market.

Some 80% of the 17,000 bales put up for auction, were sold.