14 May 2010

Wool prices increase

12:02 pm on 14 May 2010

Exporter Wool Services International reports that a stronger market coupled with higher reserves set by growers outweighed currency considerations at this week's combined North and South Island auctions.

Mid micron fleece was well sought after, with prices between 2% and 5% dearer.

Fine crossbred wools generally held firm, while coarse fleece and shears were up to 1.5% more expensive.

First lambs fleece was also up to 3% dearer.

Almost three quarters of of the 6,500 bales on offer sold. Buyers were mainly from Australia, China and the Middle East.