27 Aug 2010

Less wool on market: prices rise

7:16 am on 27 August 2010

The country's biggest wool exporter says a smaller supply of wool is helping to push up prices and the industry can expect the trend to continue.

Prices at this week's North and South Island wool sales were up at least 2%, the fourth consecutive week that prices have increased.

Mid micron fleece was up to 2% dearer, while fine crossbred fleece and shears increased by 2-5%.

Coarse crossbred fleece was up to 3% dearer and coarse shears lifted by 2-3%.

Wool Services International says there is less wool available this season, with each sale having 2000 - 3000 fewer bales.

General manager John Dawson says that is pushing up demand and prices.