NZ wool prices jump at auction on low supply, weaker currency

Fri, 08 May 2015

By Tina Morrison May 8 (BusinessDesk) - New Zealand wool prices rose at auction, with lamb wool touching a fresh four-year high and crossbred wool hitting a six-month high, stoked by a weaker local currency and low seasonal supply. The price for clean 35-micron wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's production, rose to $5.80 per kilogram at yesterday's South Island auction, from $5.30/kg in the North Island auction last week, and its highest level since November last year, ac...

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