Clearance rates remain low at weekly wool auctions

Fri, 02 Jun 2017

By Rebecca Howard June 2 (BusinessDesk) - New Zealand's wool market remained weak at the latest South Island auction as tepid off-shore interest and the stronger New Zealand dollar weighed on clearance. Of the 8,065 bales offered 65 percent cleared, back further on the season to date clearance rate of 75 percent and well down on last year’s 89 percent clearance rate, AgriHQ said. Prices fell further across the board compared to the last South Island sale two weeks ago. Coarse 39 micron crossbred wool fell 25 cents/kg to $3.50/kg. Simi...

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