2 Sep 2013

Wool prices pick up, but merino prices still low

11:22 am on 2 September 2013

Prices for most types of wool picked up some more at Thursday's South Island sale, with the biggest market, China, showing a bit more interest.

About 90% of the 7000+ bales offered were sold, with 21 micron merino fleece and some mid-micron wool lifting by up to 3%.

The New Zealand Merino Company said the price rise was in line with the trend at this week's Melbourne sale, which is the main selling centre for merino wool.

But it said the lift came from a very low level and merino wool prices are unsustainable for most fine wool growers at their current levels.