27 Jul 2012

Wool sales improve amid more Chinese interest

1:54 pm on 27 July 2012

Renewed interest from China gave finer wool prices a lift at this week's combined North and South Island wool sale.

More than 60% of the 15,000 bales up for auction sold, an improvement on last week when barely half the offering found a buyer.

The exporter New Zealand Wool Services International says mid-micron wool was up to 3% dearer.

Longer length fine cross-bred wool fetched up to 8% more.

But coarser cross fleece and shears prices eased further by up to 3%.

There was good competition for lambs' wool, with prices picking up by about 2% to 7%.