24 Mar 2012

Wool prices firm again

8:30 pm on 24 March 2012

Most wool prices have firmed again at last week's wool sale.

The combined North and South Island sale was a large one with nearly 23,000 bales on offer. About 85% of that was sold.

The exporter, Wool Services International, says prices for North Island wool types lifted more than their South Island counterparts, although South Island wool continues to fetch more due to a smaller supply.

Fine cross bred fleece and shears were up to 2% stronger.

Longer coarse shears rose by up to 4%, but shorter shears from the South were 1 to 2% cheaper.

South Island lambs wool also eased by up to 2%, with the North Island selection up to 5% stronger.

The Wool Exporters Council says while sales to Europe and Australia have dropped, China is taking more wool.