18 Dec 2011

Wool prices down again

11:31 pm on 18 December 2011

Falling international demand pulled wool prices down further, at last week's sale of North and South Island wool.

Despite a more favourable exchange rate, prices for most wool types fell by another 2-4% on last week, when buyer nervousness triggered by the European debt crisis started to show.

New Zealand Wool Services International says prices fell for all wool types, apart from merino wools which had a mixed day, with some categories easing slightly and others increasing marginally.

Some 30% of the total offering was passed in for failing to meet reserve prices.

More than 16,000 bales of North and South Island wool will be offered for auction at next week's sale, the last before Christmas.