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Wool prices buck trend

21
Nov '09
In the last few days, the New Zealand dollar has risen by around 2 percent against a weighted currency indicator, which in normal circumstances would have pushed down prices of wool.

But contrary to that, prices have witnessed substantial price increases, helped by a strong demand from the markets, with 93 percent of bales on offer in North and South Island auctions getting sold.

Prices for merino fleece grew by 7 percent, when compared with the prices quoted in an auction a month ago, while finer mid micron fleece remained firm with the coarser variety up by 1-2 percent.

Fibre2fashion News Desk - India


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