17 Feb 2012

Stronger prices at wool sale

12:29 pm on 17 February 2012

There was a stronger tone at this week's wool sale, where about 8000 bales of South Island wool were up for auction.

It included an end of season offering of merino wool, which fetched up to 5% more than the last merino sale before Christmas.

New Zealand Wool Services International says fine crossbred fleece and shears prices also improved on last week, by up to 2.5%, although there were losses as well as gains for coarse fleece.

First lambs wool increased by 1% - 2%.

More than three quarters of the wool on offer was sold, with the main competition coming from China, Western Europe and the Middle East.