7 Mar 2009

Highest quality wools fetch improved prices

9:25 am on 7 March 2009

Prices for better quality wools lifted again at the combined North and South Island wool sale on Thursday, though demand was limited for poorer types.

New Zealand Wool Services International reports that for the second week in a row currency played a minor role as the New Zealand dollar dipped only very slightly against the main wool trading currencies.

About 20% of the 16,500 bales on offer failed to sell.

The limited supply of better style wools drove up prices, but higher volumes of poorer wools proved more difficult to sell.

Prices for good style fine crossbreed fleece and shears lifted by up to 9%. Longer lambs' fleece generally improved by up to 6%.

Average and poor styles were up to 5% cheaper, especially lines that were poorly prepared and wools containing vegetable matter.

The main demand came from Australasian carpet mills, India and China.