12 Dec 2008

Wool prices firm

12:48 pm on 12 December 2008

There was some firming of wool prices at this week's South Island sale in Christchurch.

In overseas currency terms, New Zealand Wool Services International says prices lifted for most of the wool offered, compared with recent sales.

But the New Zealand dollar also appreciated 1.4% against a weighted currency indicator since the last sale a week ago. More than a third of the wool offered for auction was left unsold.

Good colour crossbred fleece, early shorn and longer shear wools were 1% - 2% dearer. Finer mid-micron wools also gained a little.

Coarse wool types were 7% - 10% cheaper, compared to when they were last offered, three weeks ago.

Small offering of merino fleece also incurred a very high passing-in rate, with prices for finer lines dropping 3% - 5%.