Prices increase at combined wool sale

Favourable exchange rate movements helped boost prices at last week's combined North and South Island wool sale.

Prices for the 13,000 bales on offer rose by up to 5%, with a small offering of mid-micron wool and crossbred lamb's wool rising the most.

New Zealand Wool Services International reports the New Zealand dollar eased by about 4% against key trading currencies compared with the previous sale on May 13.

The price of crossbred fleece wool rose by 2.5% to 5% with poorer quality fibre rising the most.

Lamb's wool rose 4% to 5% and a small offering of oddments rose in price by up to 5%.

Buyers came from carpet mills in Australia and New Zealand and also from India and China, with support from Europe and the Middle East.

Of the 13,000 bales, 88% sold.

This week there will be a combined North Island and South Island sale of 8000 bales.

 

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