New Zealand Carpet And Textile Wool Prices Rise

Prices for carpet and textile wool rose at today's North Island sale.

Fine crossbred fleece and shears were 3 to 6 per cent dearer than the previous sale, good-style coarse full fleece were 5 to 6 per cent stronger with poorer styles lifting by 7 to 10 per cent.

Coarse shears were 6 to 10 per cent dearer, long oddments increased by 6 to 8.5 per cent with shorter types 4 to 6 per cent stronger.

A shortage of wool and increased competition among exporters shipping to Australasia, China, Middle East and Western Europe outweighed a slight rise in exchange rates, New Zealand Wool Services International general manager John Dawson said.

The drought-caused wool shortage will continue at the next sale on September 12, when 8200 bales - 40 per cent of normal - of South Island wool will be offered.