28 Aug 2015

Wool prices dip again

7:22 am on 28 August 2015

Nervousness about the economic conditions in China appears to have had a bearing on yesterday's South Island wool sale.

Prices have dipped for the second week in a row, despite the more favourable exchange rate from a weaker New Zealand dollar.

The exporter, New Zealand Wool Services International, said this week's price slide reflected a lack of confidence in the global market, which was creating some uncertainty.

Mid micron wool sold for 1-4 percent cheaper.

Fine cross-bred wools were also down by about the same range.

However, coarse cross-bred wool prices remained firm.

Next week's North Island auction will have a smaller offering, less than 8000 bales.

Get the new RNZ app

for ad-free news and current affairs