23 Oct 2009

Wool price rise continues

6:01 am on 23 October 2009

An upward trend in wool prices has continued at this week's North Island sale despite a further rise in the New Zealand dollar.

The dollar value has increased by 2% against a weighted indicator of the main wool trading currencies since last week.

New Zealand Wool Services International reports that prices for carpet wool types lifted by up to 2.5% on the previous North Island sale a fortnight ago.

It says the only wools to buck that trend were 34 micron and finer hogget types, which fell by up to 2%.

More than three quarters of the 9300 bales offered for auction were sold, with bidding from Australasian carpet mills, China, India and Europe.