28 Nov 2008

Weak demand at wool sale

6:10 am on 28 November 2008

Cross-bred wool prices eased a bit more this week, in a small sale marked by weak demand.

Some 5500 bales of South Island wool were put up for auction in Christchurch: a quarter were passed in unsold.

New Zealand Wool Services International says a slightly stronger New Zealand dollar, combined with severely restricted international demand, accounted for the lower prices.

Prices for most wool types dropped by up to 1.5%, similar to those paid at last week's North Island sale.

But a small amount of mid micron fleece fetched up to 6% more. Short hogget wools also gained a little.