5 Feb 2010

Wool prices rise at auction

8:59 am on 5 February 2010

Wool prices rose again across the board at Thursday's sales on the back of strong demand for the limited amount of wool on offer.

The increased competition overcame the negative effects of a further lift in the exchange rate.

Nearly all of the 14,000 bales offered at the combined North and South Island auction were sold.

Fine lambs' fleeces, in particularly short supply because of favourable growing conditions on farms, achieved the biggest price lift of up to 14%.