Wool exporters are describing a further slide in wool prices as a correction after prices rose too rapidly.
Prices for all wool types dropped at Thursday's combined North and South Island sale.
Crossbred fleece was 4% to 5% percent cheaper, coarse shears shed 3% to 6% and first lambs wool sold for 4% to 7% less.
The latest prices continue a decline this month from the peak in March
John Dawson of exporter Wool Services International says it's a sign that down-stream processors and consumers are resisting the rapid price rises of recent months.
He says prices went up too fast and a correction was needed, however prices are still significantly higher than they were at the start of the season.
