1 Aug 2009

North Island wool prices solid

9:14 am on 1 August 2009

Prices at Thursday's North Island wool sale in Napier were solid compared with the last sale held there.

More than 11,500 bales were on offer. However only 65% were sold.

New Zealand Wool Services International says that since the previous sale three weeks ago, prices for fine crossbred shears were up to 5% higher, with good colour coarse fleece prices firm.

Average styles were 3% dearer and poor styles up to 7% dearer.

Long coarse shears were up to 6% dearer, although prices for a limited offering of lambs fleece eased by up to 2.5%.

Prices for short coarse oddments were firm to 5.5% dearer, with good style types the most sought after.

The strongest buyer interest was largely from local and Australasian carpet manufacturers.

Next week's auction, this time of South Island wool in Christchurch, will have almost 13,000 bales for sale.