29 Aug 2014

Wool prices consolidate after last week's fall

2:56 pm on 29 August 2014

Wool prices have consolidated at this week's auction, as buyers compete for the limited supplies available.

Wool prices have consolidated this week.

Wool prices have consolidated this week. Photo: Photo NZ

Prices eased at last week's South Island sale, but crossbred fleece and second shear wools - which made up most of the offering - lifted by one or two percent this week.

Finer wool prices were more mixed with some lines of mid-micron fleece selling for two to four percent less.

Eighty three percent of the seven thousand 700 bales put up for auction sold.

Mid micron wools and a small amount of merino made up most of the wool passed in for failing to meet reserve prices.

Get the RNZ app

for ad-free news and current affairs