2 Jul 2010

Falling dollar lifts some wool sale prices

6:06 am on 2 July 2010

Currency fluctuations produced mixed results at this week's wool sales.

Wool Services International reports that a drop in the New Zealand dollar since last week helped to increase the price of fleece and shears at the North Island sale by 1% to 2%, while lambs' wool was marginally softer.

There was greater price variation in the South Island, where mid-micron fleece and fine crossbred wools were up to 4.5% cheaper, and end-of-season lambs' wool between 1% and 2.5% down.

South Island carpet wool prices held up, however, with coarse fleece and shears increasing up to 1%.

More than 14,500 bales were offered at the two sales, 88% of which were sold.