NZ wool prices fall at weekly auction; second-shear wool hits 7-year low

Thu, 08 Jun 2017

By Tina Morrison June 9 (BusinessDesk) - Prices fell at New Zealand's latest weekly wool auction, with some grades hitting their lowest level in more than seven years, amid continued lacklustre demand from China, the largest buyer, and as a higher kiwi dollar made the fibre less competitive. At the latest North Island auction yesterday, 37-micron crossbred second-shear wool dropped 30 cents to $3.05 a kilogram from last week's South Island sale, hitting its lowest level since January 2010, according to AgriHQ. Compared with the previous N...

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