NZ wool auction volumes likely to drop 4.4% this season

Mon, 01 Feb 2016

By Tina Morrison Feb. 2 (BusinessDesk) - New Zealand will have less wool changing hands at auction this year as the sheep flock declines and some areas are hit by drought. The country is expected to have 459,000 wool bales pass through auction in the 2015/16 season, down from an earlier estimate of 461,000 bales as South Island farmers reduce stock numbers to cope with dry weather, according to the wool auction roster committee which met last week to estimate supply for the second half of the season. The latest estimate is 4.4 percent dow...

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