12 Apr 2013

High dollar hits wool prices

8:28 am on 12 April 2013

A surging New Zealand dollar has undermined wool prices at this week's South Island sale, ending a period of stability.

The exporter, New Zealand Wool Services International, says the market remained firm for in-demand wools but the rise in the dollar by more than 2% against the United States currency undercut the rest.

Fine crossbred fleece and shears and some coarse crossbred wools sold for 2-5% less.

The clearance rate at Thursday's auction was also down, with just over three quarters of the 9000 bales sold.