3 Apr 2010

Strong dollar erodes wool prices

8:05 am on 3 April 2010

A stronger New Zealand dollar eroded wool prices again at last week's North and South Island wool sales.

New Zealand Wool Services International says the New Zealand dollar rose by nearly 1% against the main wool trading currencies since the previous week's sale.

Fine crossbred fleece eased by 1.5%-2% while coarse fleece fell in price by up to 1.5%. First lambs fleece also eased by up to 2.5%.

However mid micron wools bucked the trend and were generally 2% higher in price.

More than 80% of the 13,000 bales on offer sold.