Demand for wool pushes up prices

The planets finally lined up for last week's South Island wool sale, with prices lifting for most types.

An easing exchange rate, a lift in demand and easing shipping pressure saw prices lift by up to 10% compared to the previous sale on March 18.

Wool Services International reported that limited supplies of fine wool saw the strongest gains, with mid micron wool 26 to 30 micron lifting 4% and 32 to 35 micron 2%-10%, with longer clips attracting the strongest interest.

Coarse crossbred fleece rose by up to 5% with poorer styles rising the most, reversing the market of recent weeks.

Coarse second shears were up to 2% stronger and lamb's fleece lifting 1.5%-6%, with longer types in most demand.

Oddments continued to find demand, rising 2%-4%.

The sale attracted 18,000 bales in both the North Island and South Island, with 84% of the offering selling.

 

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