8 Jul 2011

Prices continue rising at first wool sale

5:43 am on 8 July 2011

Prices firmed again at the first sale of the new wool selling season, continuing the recovery of the past year.

The sale was a small one, with only 6000 bales of North Island wool on offer. More than 90% were sold.

Wool Services International says the limited supply and steady demand are keeping the market firm, over-riding the negative effect of the strong New Zealand dollar on returns.

The biggest price gains were for coarse cross-bred fleece which lifted another 4% on previous North Island levels.

A small offering of short lambs fleece sold for 4% - 6% more.