2 Dec 2013

Wool prices down again

12:42 pm on 2 December 2013

Wool prices tumbled again last week, in a further market correction from inflated price levels that were turning off buyers.

A short fall in supply has helped to push up prices in recent months.

At last week's North Island sale, prices for most cross-bred wools fell by up to 9%.

Wool Services International says competition from buyers was limited and the demand from all markets was tentative.

About 20% of the eight thousand bales on offer were passed in, unsold.