1 Apr 2011

Wool prices fall for first time in weeks

6:03 am on 1 April 2011

A sustained rise in wool prices came to a halt on Thursday when

prices for most wool types auctioned at the combined North and South Island sale fell for the first time in weeks.

New Zealand Wool Services International links the decline to a strengthening United States dollar.

Good-colour fleece dropped the furthest, by 3%, while average-style fleece lost 1%.

Shorter lambswool also sold for 2% to 3% less.

However, prices for poor-colour fleece and early shorn wools held their ground.

Almost 14,000 bales were on offer. Some 88% were sold.