NZ wool prices rise at auction as lower volumes bolster prices
Clean 35-micron wool increased to $5.95 a kilogram.
New Zealand wool prices gained at auction as lower volumes underpinned 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 a kilogram at yesterday's South Island auction, from $5.73/kg at last week's combined North and South island auctions, and 13% higher than a year ago, AgriHQ said.
Volumes on offer at the sale were 38% lower than the same time last year, and 89% of the total 8,616 bales were sold, AgriHQ said. The country is forecast to have a 4.4% drop in wool auction volumes this season as the national wool clip declines in line with lower sheep numbers and after farmers focused more on meat producing sheep breeds.
Most wool types lifted in the latest auction, with the exception of lamb wool which declined to $6.60/kg from $6.73/kg last week, AgriHQ said.
Trade data published today showed the value of New Zealand wool exports jumped by a third in January to $59 million, compared with the same month a year earlier. In the 12 months to the end of January, wool exports rose 9.9% to $828 million, making it the country's 14th largest commodity export.
(BusinessDesk)
Tina Morrison
Fri, 26 Feb 2016
Fri, 26 Feb 2016
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NZ wool prices rise at auction as lower volumes bolster prices
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