26 Sep 2008

Wool prices fall

6:06 am on 26 September 2008

Prices dropped for most types of wool at the combined North and South Island sales on Thursday.

Almost 15,000 bales were on offer.

Since last week's sale, New Zealand Wool Services International says the New Zealand dollar has risen three per cent against the US dollar.

That combined with a quiet trading period of wool internationally, pushed prices down, with most types between 2.5% 5% cheaper.

Halfbred fleece weakened by between 3.5% - 5%.

Fine crossbred fleece was up to 3.5% cheaper with coarser lines down by 3%.

Some 22% of the offering failed to sell.