NZ crossbred wool prices fall to 7-year low amid lacklustre demand

Thu, 29 Jun 2017

By Tina Morrison June 30 (BusinessDesk) - Prices for some crossbred wool grades fell to their lowest level in more than seven years at New Zealand's latest weekly auction as unsold stockpiles weigh on the market amid lacklustre demand from China, the largest buyer of the fibre. At the latest South Island auction yesterday, 35-micron crossbred fleece wool dropped 5 cents to $3.30 a kilogram from the previous South Island sale a fortnight ago, which is the last time the fibre traded at auction, according to AgriHQ. Coarser 37-micron crossbr...

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