16 Jun 2013

Shortages push wool prices up another peg

7:08 pm on 16 June 2013

A shortage of wool and a softer exchange rate have pushed wool prices up another notch at this week's North Island sale.

The exporter, New Zealand Wool Services International, says there was strong demand for about 7,500 bales on offer.

The drought, followed by wet weather that's disrupted shearing in the South Island, have reduced the anticipated amount of wool coming forward for auction.

Prices picked up another 1% - 4% on last week.

The next auction, at the end of June, will be a combined North and South Island sale.