NZ wool prices fall; crossbred fleece hits lowest level in 7 1/2 years

Thu, 22 Jun 2017

By Tina Morrison June 23 (BusinessDesk) - Prices fell at New Zealand's latest weekly wool auction, with some grades hitting their lowest level in seven and a half years, amid continued lacklustre demand from China, the largest buyer of the fibre. At the latest North Island auction yesterday, 37-micron crossbred fleece wool dropped 25 cents to $3.25 a kilogram from the previous North Island sale a fortnight ago, and was 5 cents lower than last week's South Island sale, according to AgriHQ. The latest price marks the grade's lowest point si...

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