The North and South Island Wool auction comprising 26,000 bales saw a firm to dearer market with a 90.3% clearance, New Zealand Wool Services International Ltd's marketing executive, Malcolm Ching says.

A South Island offering of 8400 bales saw a generally firmer market this week and an 89% clearance rate, says New Zealand Wool Services International Ltd's marketing executive, Malcolm Ching.

An after-tax profit of $1.08 million for the six months to December 31, 2011, is ahead of budget, says New Zealand Wool Services International Ltd (WSI).

The rising New Zealand dollar being toyed with on the international currency market is driving local wool values down, says New Zealand Wool Services International Ltd's general manager, John Dawson.

Wool prices are under pressure as large volumes of New Zealand wool comes on to the markets during January to March, says Cedric Bayly, general manager of PGG Wrightson Wool.

TO MOST New Zealanders, wool carpet feels better than synthetic, a survey by Colmar Brunton on behalf of carpet maker Cavalier Bremworth, has found.

A NEAR 2% rally in the New Zealand dollar against the main wool trading currencies was reflected in corresponding slide in prices at this week’s combined North and South Island auction, says Wool Services International.

WOOL PRICES at yesterday’s (December 15) auction were 2-4% down on last week’s sale, which also saw a drop of about 4% overall.

CONCERNS OVER Europe’s economy has hit wool consumer and processor confidence, making many buyers stand out of the market, says Wool Services International.