23 Sep 2011

Wool prices steady in North Island sale

1:50 pm on 23 September 2011

Most prices held firm at this week's sale of North Island wool.

Prices for fine crossbred fleece were steady, but the shears, which made up the bulk of the lot, eased slightly.

Demand for coarse crossbred fleece increased, in particular the longer styles, with prices up to 2% higher. However the shorter types were down by 1%.

Long oddments increased by 3 - 5% but the shorter types softened by 2 - 3%.

Wool Services International general manager John Dawson, says an oversupply of very short hogget wools has created a wide price margin between wools shorter than 2 - 3 inches and the rest of the market.

Nearly 90% of the 11,000 bales up for auction sold.

Next week's sale will feature 13,500 bales of South Island merino, half-bred and crossbred wools.