Related Keywords: clean lamb wool, crossbred wool clip, high seasonal supply, largest commodity export, latest aucton, merino wool, mid micron, New Zealand, New Zealand currency, shearing season, wool, wool price
Wool is New Zealand's 14th largest commodity export, worth an estimated $741 million in the year through November. Wool prices softened at the latest auction amid high seasonal supply from the 'main shear' shearing season from December to early February. Main shear typically accounts for about 60 percent of the annual crossbred wool clip. An increase in the New Zealand dollar since the last auction weighed on exporters, with the kiwi recently touching a 2 1/2 year high against the euro and close to its record.
