NZ wool auction clearance rate slumps to 4-year low amid Brexit uncertainty

Thu, 07 Jul 2016

By Tina Morrison July 8 (BusinessDesk) - Global uncertainty weighed on the first New Zealand wool auction for the new 2016/17 season, denting prices and buying demand. Strong crossbred second shear wool, which represented the majority of fibre on offer at yesterday's North Island auction, fell to $4.85 per kilogram from $5.40/kg at the previous week's South Island auction, and 13 percent lower than the year-earlier level, according to AgriHQ. The latest price is 4 percent below the five-year average. The New Zealand dollar has strength...

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