8 Apr 2011

Wool prices slip back

1:34 pm on 8 April 2011

Wool prices, in New Zealand dollar terms, have edged back for the second week running after their rapid rise this season.

But exporters say there's no sign of a let up in the international demand that's been fuelling the price lift.

Cross-bred fleece and shears eased by 1.5% - 3% at Thursday's combined North and South Island sales.

Lambs' wool prices were 3% - 4% cheaper.

However the general manager of New Zealand's biggest exporter, Wool Services International, John Dawson, says the price decline was specific to New Zealand currency only, because the dollar has strengthened.

He says some wool prices in US dollars, sterling and euros, have actually increased further and overseas customers are starting to feel the pinch of paying rates which for some wools have doubled in less than a year.