15 Jun 2012

Wool prices slip after recovery

6:34 am on 15 June 2012

After recovering some ground over the past month, wool prices slipped again at this week's sale of North Island wool.

New Zealand Wool Services International is putting that down to the large amount of second shear wool put up for auction. Some 85% of the 12,800 bales on offer were in that category.

A stronger dollar also put some pressure on prices.

WSI says coarse shears which made up the bulk of the offering, suffered the most, with prices 3% - 8% below the previous North Island sale.

Coarse Full Fleece prices were 1 to 2% easier.

Longer length Fine Crossbred Shears were 2% cheaper. However the shorter types resisted the trend, remaining firm to 2% stronger.

First lambs wool prices also gained up to 3%.