NZ wool prices drop at auction as demand softens during European holiday period

Thu, 18 Aug 2016

By Tina Morrison Aug. 19 (BusinessDesk) - The European summer holiday period kept some wool buyers out of the New Zealand market this week, denting demand for fine crossbred wool. The price for 35-micron wool fell to $5.50 a kilogram at yesterday's South Island wool auction from $5.55/kg when it was last traded at the previous South Island auction two weeks ago, according to AgriHQ. "European demand mainly drove the activity for fine crossbreds, so the slight easing of 35-microns wasn’t unexpected, taking into account it’s currently a...

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