23 Jul 2010

Most prices lift in first major wool sale of season

9:30 am on 23 July 2010

There's been a general lift in prices for the first significant offering of wool in the new selling season.

Almost 18,000 bales were auctioned at the combined North and South Island sales on Thursday, of which 85% was was sold.

The exporter, Wool Services International says strong demand overcame a further rise in the New Zealand dollar.

Prices eased for a small selection of mid-micron wool and long finer cross-bred fleece.

Fine crossbred shears, however, fetched up to 4% more, coarse carpet type fleece was up to 2% more expensive and second shears prices strengthened by 1-2%.

A small offering of long first lambs' fleece was up to 7% higher.

Buyers for China, India, the Middle East and the UK dominated the competition at the sales.