Wool prices continue to firm

Wool prices defied a strengthening exchange rate and generally firmed at last week's sale.

The market for the combined sale of 9200 bales of North and South Island wool was helped by a shortage of product, but the price improvement continued a trend of recent weeks.

New Zealand Wool Services International reported that prices for mid-micron fleece rose by up to 3% and finer crossbred by between 1% and 2.5%.

The price of coarse fleece also rose slightly; coarse shears lifted by up to 1% and oddments lifted by up to 3%.

End-of-season first lamb's fleece regained ground lost last week by rising between 1% and 2.5%.

The sale report said 84% of the offering sold, with dominant buyers from China, India and Western Europe.

 

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