1 Jun 2012

Wool prices stabilise at latest sale

6:01 am on 1 June 2012

Wool prices continued to stabilise at the latest North Island sale this week and about three quarters of the 10,000 bales on offer were sold.

Wool Services International says the weaker New Zealand dollar has contributed to the pick up in prices over the past fortnight.

Short second shear wools made up nearly 70% of the offering, compared with 7% at last week's South Island sale, making price comparisons difficult.

Coarse full fleece and longer shears were up to 7% stronger and shorter types were firm.

Fine Crossbred Fleece and Shears were 2% dearer and lambs wool lifted by about 5%.