25 Mar 2011

Heavy demand lifts wool prices

3:28 pm on 25 March 2011

Heavy demand lifted wool prices even further this week at the North and South Island wool sales.

Wool Services International says prices increased by more than 5.5% overall.

Longer fine crossbred shears and early second shears were between 4.5% to 5.5% dearer in the South Island.

The North Island recorded stronger lifts, with good to average types up by 10% and second shears by 7%.

Coarse crossbred fleece rose between 8% to 13% and first lambs wool by between between 7.5% to 10% in the North Island and between 3% to 5% in the South.

Strongest competition came from China, Australia, Europe, the United Kingdom and Asia.

Almost 20,000 bales were on offer and 98% of the wool was sold.