17 Dec 2010

Steady improvement in wool prices continues

10:24 am on 17 December 2010

Exporter Wool Services International says strong demand and limited supply is still driving up the prices, helped this week by a slight drop in the value of the New Zealand dollar since the last sales a week ago.

The price of coarse carpet type fleece rose 2.5% - 5% in the sales on Thursday.

Fine crossbred wool prices were up to 1% higher.

Coarse crossbred wools strengthened by up to 2%.

However, a small end of season offering of finer mid micron wools eased 4% - 6%.

Of the more than 7000 bales on offer, 96% were sold.

Buyers from China, India and Australasia continued to dominate the market.