Prices rose at auctions of wool in Napier and Christchurch, according to New Zealand Wool Services International.

Interest was widespread, with Australasian carpet mills, China, India and the Middle East to the fore, supported by buyers from Western Europe, Asia and the United Kingdom.

About 86 percent of the 23,800 bales on offer sold.

Since the previous sale, on April 8, the New Zealand dollar has remained virtually unchanged, meaning today's price gains were totally demand driven.

A small selection of fine crossbred wools appreciated in price by between 2 to 5 percent, due mainly to continued interest from China.

Coarse fleece wools strengthened between 1 and 4 percent, with poorer styles generating greater increases. Coarse shears made similar gains.

Lambs' fleece was firm to 3 percent dearer, with strongest demand for the longer types.

Good competition for oddment wool drove price increases in that category of between 2.5 and 5 percent.

Next week's auction, on April 29, will be a combined sale of North and South Island wool, in Napier and Christchurch, offering approximately 2300 bales and 7300 bales respectively.

Source: Staff Co NZ