Wool prices

The sale of New Zealand's largest wool exporter to private Australian interests is unlikely to sit well with its New Zealand farmer-shareholders, but could provide a channel to new global markets.

Prices strengthened across most micron categories while poorer colour fleece, which had been struggling in recent weeks, met with good competition at the wool sale in Christchurch last week.

A slightly weaker New Zealand dollar and increased international demand combined to improve most prices at the wool sale in Christchurch yesterday.

A stronger New Zealand dollar played a major factor in the generally softer market at the South Island wool sale in Christchurch yesterday.

Prices continued to slide for all wool types at the South Island wool sale in Christchurch yesterday, prompting growers to reserve wool.

Prices finished firm for most longer wool types, but cheaper for shorter fleece and mid-micron types at the wool sale in Christchurch this week.

Lower export prices led a fall in New Zealand's terms of trade in the three months ended March with the good news being the fall was slightly smaller than expected.

A weaker New Zealand dollar and restricted supplies, coupled with renewed overseas buying, saw prices rebound dramatically at the wool sale in Christchurch this week.

Prices eased at the wool sale in Christchurch yesterday with poorer styles most affected.

Wool prices strengthened for most types as buyers at the wool sale in Christchurch yesterday were active in securing good volumes for scouring and prompt shipping.