28 Nov 2010

Wool prices soften

7:45 am on 28 November 2010

Most wool prices softened at auction this week after a strong run in recent weeks, despite the New Zealand dollar easing a little.

New Zealand Wool Services International reports that fine crossbred fleece and shears prices were 1% - 3% lower.

Coarse carpet fleece and shears were firm to 2% cheaper with the gap between the better and poorer styles widening as larger volumes of discoloured wools come on the market.

Merino fleece was generally firm, but mid micron wools were up to 2.5% easier except for the 26 - 27.5 micron range, which resisted the trend and increased by 1% - 5%.

About 94% percent of the offering was sold.