NZ wool market recovers from lows in latest season as demand picks up; outlook uncertain

Thu, 12 Jul 2018

By Tina Morrison July 12 (BusinessDesk) - The market for New Zealand coarse wool, which makes up about three quarters of the country's clip, has picked up from the previous season's lows as demand improved, pushing up prices and volumes. A total of 522,039 bales were offered at auction in the season that ended June 30, with 445,553 bales sold and 76,486 bales passed in, where the reserve price wasn't met, resulting in a clearance rate of 85 percent, according to AgriHQ data. That's an improvement from the previous year's season when with ...

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