6 May 2011

Prices firm at wool sale

4:35 am on 6 May 2011

But only 6500 bales were auctioned and competition was limited.

Wool prices firmed at this week's sale, on the back of a softer dollar.

Prices have eased in recent weeks after their rapid rise, peaking in March.

But a lower New Zealand dollar took some of the pressure off prices at a combined South and North Island sale on Thursday.

Wool Services International says longer coarse cross-bred fleece was 2.5% dearer and average and poor style fleece also strengthened a little due to a seasonal short supply.

But shorter cross-bred fleece fell by 2%.

Lamb's wool prices were also mixed, with first lambs' fleece rising by up to three percent, but shorter fleece slipping by 4% - 5%.

Only 6500 bales were auctioned and competition was limited, with only three quarters of the wool selling.