19 Jun 2009

Wool prices slide at latest auction

2:02 pm on 19 June 2009

Limited demand for carpet wools has seen a further slide in

prices at this week's North Island wool sale in Napier.

Only 58% of the 14,000 bales on offer sold.

New Zealand Wool Services International says currency fluctuation played little part in the auction results, since there has been little movement since the last sale a fortnight ago.

With shorter, coarse second shear-wools comprising more than half of the offering, main buyer interest came from local and Australian carpet mills.

Wool Services International says prices for coarse carpet wools ranged from 1% down for poorer types to between 5% and 9% cheaper for shorter length wool.

Prices for finer crossbred fleece were up to 9% lower, reflecting muted interest from Chinese buyers.

Prices for first lambs' wool fell by 5% to 8%.