1 Oct 2010

Wool prices surge again

12:35 pm on 1 October 2010

There was another surge in wool prices at this week's combined North and South Island sales.

New Zealand Wool Services International says coarse crossbred wools attracted the most interest. Full fleece was 10% dearer and second shears rising by as much as 13%.

Fine crossbred fleece was up to 5% stronger, with shorter types rising by between 2% - 11%.

Merino wool, 19-micron and finer, fetched up to 6% more, but coarser lines eased by 3% - 6%.

Mid micron fleece prices varied, from firm to 5% higher.

More than 90% of the 20,000 bales on offer sold. Most of the unsold wool was in the mid-micron and coarser merino range.

Next week's wool sale is cancelled due to on-going supply shortages, aggravated by poor weather which has disrupted shearing.

There will be another combined North and South Island sale in a fortnight.