29 Oct 2010

Wool prices continue steady rise

7:06 am on 29 October 2010

The steady improvement in wool prices has continued, with a further lift for most of the wool on offer at Thursday's auction of North and South Island wool.

Exporter Wool Services International says strong demand and limited supply is still driving up the prices, helped this week by a slight drop in the value of the New Zealand dollar since the last sales a fortnight ago.

The price of coarse carpet type fleece and shears rose by 1% - 5%, with North Island wools lifting the most, bringing them into line with the southern prices.

Fine crossbred wools strengthened between 2% and 8%.

A small selection of finer merino fleece was 3% - 9% more expensive, although the stronger micron wools eased slightly.

Of the more than 1700 bales on offer. 95% percent were sold.