7 Oct 2011

Wool prices pushed up by weaker dollar, higher demand

2:01 pm on 7 October 2011

The exchange rate has given wool prices a further boost at this week's North Island sale.

The exporter, Wool Services International, says the New Zealand dollar had weakened further against the main trading currencies since the previous week's sale and that, along with increased demand, has pushed prices up another notch.

Crossbred Fleece and Shears lifted by 2% or more on Thursday.

Of the more than 8000 bales on offer, 98% were sold, reflecting strong competition from the Australasian, Chinese and UK markets.