Scoop has an Ethical Paywall
Work smarter with a Pro licence Learn More

Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

NZ wool prices steady as demand, supply still in balance

NZ wool prices hold steady as demand, supply remain in balance

By Tina Morrison

Aug. 21 (BusinessDesk) - New Zealand wool prices held steady at auction as good demand and limited supply conditions continue.

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, was unchanged at $6.15 per kilogram for a fourth week at yesterday's South Island auction, 5 percent ahead of the year earlier, according to AgriHQ. The price for lamb wool held at $7.20/kg for the eighth consecutive auction, and is 31 percent ahead of the year earlier.

Some 81 percent of the 9,200 bales offered at auction were sold, only the second time since the start of the 2015/16 season in July that the clearance rate has fallen below 90 percent. About 7,500 bales are scheduled for next week's sale.

(BusinessDesk)

Advertisement - scroll to continue reading

Are you getting our free newsletter?

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.

© Scoop Media

Advertisement - scroll to continue reading
 
 
 
Business Headlines | Sci-Tech Headlines

 
 
 
 
 
 
 
 
 
 
 
 

Join Our Free Newsletter

Subscribe to Scoop’s 'The Catch Up' our free weekly newsletter sent to your inbox every Monday with stories from across our network.