Lamb wool prices close to 4-year high on increased demand from China

Thu, 05 Feb 2015

By Tina Morrison Feb. 5 (BusinessDesk) - New Zealand lamb wool prices jumped to their highest level in almost four years at auction yesterday on increased demand for the apparel fibre. Lamb wool rose 3 percent to an average $6.55 per kilogram from last week's auction, the highest price since April 2011, 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 production, rose 1 percent to a $5.15/kg. The amount of wool offered for auction i...

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