5 May 2012

Wool prices variable, but demand stabilises

9:58 am on 5 May 2012

It's been a mixed bag for wool prices at this week's sale, but demand is holding firm.

Two thirds of the 8000 North Island bales on offer on Thursday sold - the same clearance rate as last week and a pick up from last month's sales when nearly half the wool for auction was being passed in.

Wool Services International says demand is stabilising and the price variations aren't as dramatic as in previous weeks.

Prices for a small selection of fine cross bred shears rose by 2%.

First lambs wool was 2% dearer and good-style oddments lifted by 3%.

Shorter length shears which made up the bulk of the offering were up to 6% cheaper and three-quarter-inch shears eased by up to 2.5%.

Next week's sale will comprise nearly 11,000 bales of South Island wool.