4 Feb 2011

Wool prices ease after record gains

6:03 am on 4 February 2011

Prices at Thursday's sale of North and South Island wool, eased a bit as the market adjusted to an unexpectedly large lift a fortnight ago.

Wool Services International says demand from China was also quieter this week, as it takes its spring festival break.

However, general manager John Dawson says exporters still have a good range of forward orders to complete, which accounted for a clearance rate of 98%.

Cross-bred fleece sold for up to 2% cheaper and shears for up to 4% less.

First lambs' wool resisted the trend, rising by up to 2%.