WELLINGTON: New Zealand lamb wool prices have risen to a three-year high on increased demand for the fibre from clothing manufacturers in China.
The price for lambs wool jumped 10 cents to $6.10 per kilogram at last week’s North Island auction, matching a price last seen in January 2012, according to AgriHQ.
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The price for 35-micron clean wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand’s production, was steady at $4.85/kg compared with the average price in auctions in both islands the previous week.
Merino and mid-micron wool didn’t trade in the latest auction.
