Wool prices hold steady as demand, supply remain in balance
The price for clean 35-micron wool was unchanged at $6.15 per kilogram.
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)
Tina Morrison
Fri, 21 Aug 2015
Fri, 21 Aug 2015
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Wool prices hold steady as demand, supply remain in balance
50793