NEW ZEALAND: looming shortage of wool Lifts Auction Prices

New Zealand: New Zealand Concerns about a looming shortage of wool resulted in auction prices rising last week despite an appreciating currency.

Prices for some wool types rose 12% with almost all the 19,000 bales offered at the combined North and South Island sale selling.

Wool Services International manager John Dawson said that since the last sale on September 30, the New Zealand dollar had appreciated 2.8%, but this had little effect on last week's market.

Merino fleece rose in price by between 1.5% and 8%.

The stronger end appreciated the most, while mid micron wool rose between 1% and 4%.

Crossbred wool had the greatest gain, with the finer fleece rising between 7% and 12% while coarser carpet fleece and shears rose between 10% and 12.5%.

Oddments were once again in demand, rising between 6.5% and 13%.


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Added: November 1, 2010 Source: YNFX
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