8 Aug 2009

Most wool prices hold steady

2:15 pm on 8 August 2009

Prices for coarse wool types withstood a rise in the dollar at Thursday's sale in Christchurch, although mid-micron wools slipped in price.

New Zealand Wool Services International says the New Zealand dollar had appreciated 2.5% against the main wool trading currencies since last week's sale.

About 70% of the nearly 12,500 bales on offer sold and prices for coarse wool held firm or increased.

Wool Services International says interest from China and Western Europe was subdued as many Northern Hemisphere processors have closed for the summer vacation.

As a result, mid micron fleece prices fell by up to 5% compared with the last time they were sold in the South Island a fortnight ago.