NZ wool auction volumes remain high as farmers seek to move stockpiles

Thu, 27 Apr 2017

By Tina Morrison April 28 (BusinessDesk) - Volumes at New Zealand's weekly wool auction were higher than normal for this time of year as farmers try to shift bales they held back from previous auctions due to weak prices. Some 6,160 bales were offered at yesterday's North Island auction yesterday, 13 percent higher than volumes for the same time last year, according to AgriHQ. Some 70 percent of the wool was sold at auction, lagging behind the 75 percent clearance rate for the season to date, and well below last year's 90 percent rate, Ag...

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