19 Nov 2010

Fine wool prices jump again

1:01 pm on 19 November 2010

Fine wool prices surged again at auction this week at a combined North and South Island sale.

Wool Services International, says merino fleece gained 10% - 17% on prices a fortnight ago.

Mid-micron prices also rose by 1% - 5%.

Most coarse fleece and shears prices were firm to slightly dearer and a small selection of lambs' fleece also improved by up to 2%.

But after recent strong gains, prices for fine crossbred and hogget wools fell slightly as Chinese manufacturers using those wools have met their immediate needs.

More than 90% of the 10,000 bales on offer were sold.