NZ wool price rises 2.9% on strong demand

Fri, 13 Feb 2015

By Tina Morrison Feb. 13 (BusinessDesk) - New Zealand crossbred wool, which accounts for the majority of the country's production, increased 2.9 percent in the latest auction on strong overseas demand. The price for 35-micron clean wool, commonly used for carpets, rose to $5.30 per kilogram at this week's auctions, from $5.15/kg the previous week, according to AgriHQ. That's 10 percent ahead of February's average price of $4.80/kg for the past five years. Some 96 percent of the 14,000 bales on offer at the combined North and South isla...

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