Radio New Zealand - Te Reo Irirangi o Aotearoa

Wool prices strengthen

Updated at 10:02 am on 3 September 2010

Wool prices continue to improve, despite a strengthening in the value of the New Zealand dollar.

Wool Services International says wool sold in US dollars has gone up by 6% in the past two months, compared with a currency movement of 1%.

It says prices for mid-micron fleece were up between 2% and 5% at Thursday's combined North and South Island sale.

Fine crossbred fleece and shears improved between 1% and 4%. Coarse shears were up to 3% dearer, while crossbred fleece was firm to slightly stronger in price.

Of the 9000 bales on offer, 89% sold. Buyers from India, China, the Middle East and the United Kingdom dominated the bidding.

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