10 May 2013

Wool prices pick up

6:26 am on 10 May 2013

Prices for most wool types picked up at this week's South Island sale.

New Zealand Wool Services International said the main contributing factors were a slightly weaker New Zealand dollar compared with most main trading currencies, restricted wool supply and dearer wool markets in other countries.

Mid micron fleece was up to 4% dearer, compared with the last South Island sale.

Prices for longer length fine crossbred fleece and shears were 3 to 5% higher with shorter types fetching 5 to 8% more.

Coarse crossbred wools were up to 5% stronger.

Most lambs wool types were also dearer except for short, coarser fleece which fell 2%.

More than 80% of the 8300 bales were sold.