11 May 2012

Prices and demand pick up at wool sale

6:27 am on 11 May 2012

A weaker New Zealand dollar and seasonal drop in wool supply have helped to turn around prices at this week's sale of South Island wool.

Exporter New Zealand Wool Services International says prices for most wool types lifted with fine crossbred fleece and shears up to 4.5% higher.

Coarse crossbred fleece and shears fetched up to 5.5% more and first lambs wool prices lifted by 3 - 6%.

The stronger demand was reflected in a higher clearance rate. More than 80% of the 9500 bales up for auction were sold.