12 May 2014

Wool prices and demand lifts

6:25 am on 12 May 2014

The disruption to shearing around the country caused by recent wet weather has helped to lift wool prices and demand.

The last North Island sale was cancelled because of the drop in wool coming off farms and the amount on offer at last week's South Island auction was almost halved to 6000 bales.

The limited amount of wool available is putting pressure on exporters to find what they need to meet contracted shipping schedules.

As a result, 90 percent of the wool at last week's sale was sold and prices for most types increased by two to four percent.