25 Oct 2013

Shortage keeps strong wool prices high

3:36 pm on 25 October 2013

Fine wool prices eased back but strong wool prices gained more ground at this week's South Island wool sale.

A continuing shortfall in the amount of wool coming forward for auction is helping to keep prices on the rise, as overseas processors look to replenish their stocks.

There was an 88% clearance of the 7500 bales on offer.

Compared with last week's North Island sale, crossbred prices rose by up to 6%. But merino prices slipped by between 1% and 5% compared with the previous sale of fine wool on 10 October.

Finer lines of mid-micron wool also eased a little, but rose by 9% at the stronger end.