26 Mar 2010

Prices increase for most wool types

9:49 am on 26 March 2010

Wool prices increased for most categories Thursday's combined North and South Island sale, thanks to a slightly weaker dollar, stronger demand and shipping pressure and a limited supply of finer wools.

New Zealand Wool Services International says, compared with last week's sale, the dollar had fallen slightly against the main wool trading currencies.

The price of a small offering of mid micron wools strengthened by 4%, with some coarser types lifting by up to 10%.

Coarse crossbred fleece was up to 5% more expensive. Coarse second shears rose by up to 2%.

More than 80% of the 18,000 bales on offer were sold.

The main buyer interest was from Australasian Carpet Mills, China, India and the United Kingdom.

Next week's auction of 11,000 bales of South Island wool will be held in Christchurch.