6 Aug 2012

Wool demand sluggish

11:15 am on 6 August 2012

Wool prices in this week's sale were affected by a stronger New Zealand dollar.

Wool Services International says only 69% of the offering of 7200 bales were sold.

Sluggish demand was reflected in price for all but fine wool types.

Fine crossbred 33 and 34 micron attracted strong competition, increasing by 8% to 11%, but 35 micron fleece was up to 3% cheaper. Fine crossbred shears ranged from firm to 5% easier.

There was limited competition from China, India and the Middle East, with some support from Western Europe and Britain.