11 Jul 2010

New wool selling season begins with price rises

5:34 pm on 11 July 2010

The new wool selling season has had a positive start, with prices for most wool types lifting at this week's sale in Napier.

Thursday's sale was small, with fewer than 5,500 bales up for auction.

Demand was strong, however, in most cases offsetting the normally negative impact of a stronger New Zealand dollar. More than 80% of the wool was sold.

Exporter New Zealand Wool Services International reports that prices rose by 2% to 5% for a small amount of finer crossbred shears.

Prices held firm for good colour coarse shears, which made up the bulk of the sale, but slipped by 1% to 3% for the average and poor styles.

Lambs' fleece prices increased by up to 2.5% and oddments were also in good demand, with price rises ranging between 1% and 5%.

Next week, more than 24,000 bales will be up for auction at combined North and South Island sales.