NZ wool prices rise at auction as lower volumes bolster prices

Fri, 26 Feb 2016

By Tina Morrison Feb. 26 (BusinessDesk) - New Zealand wool prices gained at auction as lower volumes underpined prices. Clean 35-micron wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's production, increased to $5.95 per kilogram at yesterday's South Island auction, from $5.73/kg at last week's combined North and South island auctions, and 13 percent higher than a year ago, AgriHQ said. Volumes on offer at the sale were 38 percent lower than the same time last year, and 89 percent of...

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