Wool prices have fallen after a strong start to the new year.
There had been a significant lift in prices at the first two sales of the year, driven mainly by demand from Chinese customers seeking quick delivery.
Wool Services International said prices eased at a combined North and South Island auction on Thursday as the shipping pressure came off.
Reductions ranged from 1% to 5% across a range of wool types.
There was some seller resistance to the falls though, with 13% of the almost 17,000 bales on offer passed in, for failing to meet reserve prices.
