21 Aug 2010

Wool prices lift again

5:01 pm on 21 August 2010

Wool prices have continued the momentum of recent weeks with a further improvement at this week's North and South Island sales.

New Zealand Wool Services International says a stronger market and increased demand for prompt shipment drove the price rise. There has been no change in the exchange rate since last week.

Prices for mid micron fleece rose by 1% - 2% and fine crossbred fleece by up to 3%.

There was particular interest in fine crossbred shears, which lifted by 2% - 8%.

Coarse fleece was up to 3.5% dearer, while second shears rose by 1% - 4%.

Buyers from Australasia, the Middle East, China and India led the strong competition at the sales.