Good demand for wools

Wool prices benefited at last week's auction from a softening exchange rate and falling supply.

Wool Partners International reports that prices held firm for most types, helped in part by strong colour being retained, and despite the wet spring.

Crossbred fleece finer than 35 microns was 1% cheaper, stronger fleece wool firmed in price and second shear rose 1% to 2%.

Mid micron wool attracted solid demand, rising 2% to 4%.

New Zealand Wool Services International manager John Dawson said merino wools less than 18.5 microns were firm to 5% cheaper, while the price of wool 19 and 20 micron strengthened by 8% to 13%. Coarser lots also firmed in price.

A nominal offering of crossbred lambs wool was 1% to 7% stronger and all oddments rose by up to 2%.

Mr Dawson said a clearance of about 96% showed competition was strong.

 

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