Wool prices up despite rising dollar

Wool prices snubbed a rising exchange rate and rose slightly at last week's combined North and South Island wool sales.

Prices rose by up to 3.5%, with some crossbred fleece and lamb's wool the only categories to ease, falling by up to 2%.

New Zealand Wool Services International reports the exchange rate firmed 1.23% since the previous sale in late April, but strong demand forced prices up.

Prices for a limited offering of mid-micron wool led the price rise, lifting between 2% and 3.5%, while fine crossbred wool rose 1%.

Good style coarse crossbred was firm in price, with average styles falling by up to 2%, but poor style fleece rose by 1.5%.

Coarse shears were sought after, with prices lifting 1% to 2% and oddments firming in price.

The sale attracted 13,000 bales, with 74% selling.

 

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