3 Dec 2011

Wool prices resist full impact of stronger NZ dollar

9:30 am on 3 December 2011

Continuing strong demand for the limited supplies available helped wool prices resist the full impact of a stronger New Zealand dollar at this week's auction.

Exporter Wool Services International says almost 90% of the 7300 bales of South Island wool on offer were sold.

Most crossbred wools were slightly cheaper, but fine wool prices were more mixed.

Finer merino fleece dropped by up to 8%, but stronger lines rose by 3 to 5%.

Finer and coarser mid-micron fleece shed some value, but 26 to 30 micron wool gained 1 to 6%.

The main demand came from Australasia, China and Western Europe.