29 May 2012

Wool prices stable

12:17 pm on 29 May 2012

Wool prices continue to stabilise. The weaker New Zealand dollar, limited supplies and a pick-up in overseas buying, combined to lift prices at last week's South Island sale.

About 88% of the almost 8000 bales on offer, were sold.

Wool Services International reports that cross bred fleece and shears prices were 2% - 4% higher than the previous North Island sale.

And particularly strong competition for coarse shears pushed those prices up by 5% - 10%.

Mid-micron and lambs wool also improved.