NZ lamb wool prices fall again
China is sitting on high levels of finished inventory amid a shrinking manufacturing sector.
New Zealand lamb wool prices fell again this week's auction because of lacklustre demand during the peak production period.
The price for 30-micron lamb wool dropped to $3.20 a kilogram at yesterday's North Island auction, down from $3.25/kg last week, according to AgriHQ. The price for 37-micron crossbred fleece also slipped by 5c to $3.40/kg from the previous auction, AgriHQ said.
New Zealand is at the tail end of its main sheep shearing season which runs from December to early February. Lamb wool reached record highs of $7.50/kg last season. However, market conditions are less buoyant this season, as China, New Zealand's largest export market, sits on high levels of finished inventory amid a shrinking manufacturing sector. Demand remains weak in Europe, and the fibre faces stiff competition from synthetics.
Buyer activity for the 5500 bales on offer picked up slightly from last week, with the auction clearance rate improving to 77%, compared with a clearance rate of 64% for 11,819 bales at auctions across the North and South islands last week.
(BusinessDesk)
Tina Morrison
Fri, 10 Feb 2017
Fri, 10 Feb 2017
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NZ lamb wool prices fall again
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