16 Mar 2012

Wool prices rise again this week

6:57 am on 16 March 2012

Wool prices have crept up again at this week's wool sale, on the back of a slightly weaker New Zealand dollar.

The sale of South Island wool was smaller than last week's, with only 7000 bales up for auction.

About 90% of that was sold.

The exporter, Wool Services International, says prices were up across the board, driven by steady Chinese demand.

Fine cross bred fleece and shears were up to 1% dearer.

Coarse cross bred fleece was also up 1%.

Fine lambs wool was up to 2% stronger, and the coarser types rose by 3%.

Oddments were also up to 3% firmer.

Next week's sale will be a larger one, with about 23,000 bales on offer from across the country.