10 Sep 2010

Carpet wool prices shoot up

8:23 am on 10 September 2010

Prices for carpet wool have shot up this week, driven by the strong international demand and supply shortages,while prices for finer apparel wool have eased.

Exporter Wool Services International reports that prices for coarser crossbred fleece and shears used for carpets rose by 4% to 11%, at the North Island and South Island sales on Thursday.

Fine crossbred fleece and shears gained between 2% and 5% and some specialty wool types increased by up to 15%.

That builds on the steady lift in wool prices seen in recent weeks, despite the potentially negative impact of a stronger New Zealand dollar.

However, a small offering of mid micron fleece eased by between 1% and 3%, bringing it into line with other fine wool markets.

Almost all of the the 13,000 bales on offer sold.

Next week fewer than 7500 bales will be offered for auction, which is 6000 fewer than earlier projections.