NZ lamb wool prices jump to 4-year high, aided by Chinese demand, US dollar strength

Fri, 13 Mar 2015

By Tina Morrison March 13 (BusinessDesk) - New Zealand lamb wool prices jumped to the highest in more than four years at auction yesterday on increased demand from China for the apparel fibre, and aided by a stronger US dollar. Lamb wool rose 3.9 percent to an average $6.65 per kilogram from last week's auction, the highest price since February 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, slipped 1.9 percent $5....

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