NZ merino prices jump as Australian drought dents supply of luxury fibre

Tina Morrison
Fri, 28 Sep 2018

By Tina Morrison Sept. 28 (BusinessDesk) - New Zealand merino wool prices are being pushed up as drought in Australia prompt farmers across the Tasman to cull stock, reducing the amount of the fine premium wool available for sale. Eighteen-micron Merino wool, considered a benchmark for the fibre, sold at $28.90/kg at this week's South Island auction. That was up from $22.40/kg at the same time last year and the five-year average of $16.70/kg for this time of year, according to AgriHQ. Merino sheep are renowned for their soft, fine wool...

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