NZ wool prices drop at auction as stronger currency bites

Fri, 12 Aug 2016

By Tina Morrison Aug. 12 (BusinessDesk) - New Zealand wool prices declined at yesterday's auction as a stronger local currency made the country's exports less attractive. Some 55 percent of the 8,640 bales on offer at yesterday's North Island auction were for strong crossbred second shear wool. The prices for 37-micron second-shear wool fell to $4.75 a kilogram, from $4.85 when the fibre was last traded in the North Island three weeks ago, and the price is 18 percent below the same period last year, according to AgriHQ. The price for stro...

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