30 Mar 2012

Wool price rises come to a halt

6:53 am on 30 March 2012

The rise in wool prices seen in recent weeks has come to a halt at this week's South Island sale.

The exporter, New Zealand Wool Services International, says strained exporter cash flows, slower demand and a slightly stronger New Zealand dollar combined to trim prices for most types of wool.

It says the Auckland port dispute also hit exporter cash flows, because it has held up some wool shipments.

Compared with last week's South Island sale, crossbred fleece was up to 5% cheaper.

Second shear wools were 2.5% cheaper and lamb's wool prices were up to 3% lower.

The sale brought South Island wool prices generally into line with their lower North Island counterparts, except for lamb's wool, which is still hovering above North Island values.