30 Oct 2009

Weaker dollar helps wool sale

6:04 am on 30 October 2009

A weaker New Zealand dollar benefitted most wool prices at Thursday's South Island sale.

New Zealand Wool Services International says that since the last Christchurch sale a fortnight ago, the dollar has dropped almost 4.5% against the main wool trading currencies.

Fine crossbred fleece was up to 4% dearer, longer shears rose 6% and coarse crossbred fleece and shears gained between 2 and 4%,

But a small offering of fine merino fleece fell by 3 to 5% compared with prices earlier in the month.

Almost 90% of the 10,500 bales on offer were sold.