10 Dec 2010

Wool prices still rising

6:05 am on 10 December 2010

A supply-demand imbalance is continuing to push up wool prices.

Most wool types were up to 10% dearer at this week's auction of North and South Island wool.

Wool Services International says tight wool supplies are dictating the market.

Mid-micron wool was well sought after, increasing between 2% - 11%, while the stronger end of the merino offering was between 8% - 13%dearer.

Fine crossbred fleece rose 1% and shorter types up to 3%.

More than 95% of the more than 21,500 bales on offer were sold.