NZ crossbred wool falls to two-month low amid stronger currency, weaker demand

NZ crossbred wool falls to two-month low amid stronger currency, weaker demand
By Tina Morrison March 27 (BusinessDesk) - New Zealand crossbred wool, which accounts for the majority of New Zealand's production, fell to a two-month low at the South Island auction yesterday amid a stronger local currency and weaker buyer demand. The price for clean 35-micron wool, a benchmark for crossbred wool commonly used for carpets, dropped 3.8 percent to $5.05 per kilogram from the previous week's auctions in both islands, according to AgriHQ. That's the lowest price since Jan. 22, when it sold for $4.85/kg. New Zealand's woo...