Chinese demand drives NZ lamb wool price rises to 6-week high

Fri, 24 Apr 2015

By Tina Morrison April 24 (BusinessDesk) - New Zealand lamb wool prices rose to a six-week high at auction yesterday on increased demand from China for the apparel fibre. Lamb wool rose 4.8 percent to $6.60 per kilogram at yesterday's South Island auction compared with last week's North Island auction, its highest level since it touched a four-year high of $6.65/kg on March 12, according to AgriHQ. The average price for 35-micron wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's product...

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