20 Feb 2015

Stronger dollar hits wool prices

9:19 am on 20 February 2015

A strengthening New Zealand dollar has clipped prices at this week's wool sale.

Ninety percent of the 14,000 or so bales were sold at the combined auction of North and South island wool.

But the exporter New Zealand Wool Services international said the exchange rate reduced returns for most of the wool on offer.

Cross-bred wools were up to 3 percent cheaper and lambs wool prices were also down on last week by up to 4.5 percent.

The Chinese New Year holiday also reduced buyer interest from that market.

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