NZ wool may have been through the worst

17 July 1997

NZ wool may have been through the worst

New Zealands wool prices have ended the 1996/97 season flat against
last year.

But after remaining at low levels for most of the time, some
observers are seeing a late surge which has driven prices up as auguring
well for the future. The market hit the seasons high at NZ$4.73 a kg at
the Christchurch sale on June 19. Just two months previously, prices had
been around the NZ$4 mark.

The strong New Zealand dollar was one factor that kept prices
depressed for most of the season. Prices increased for all types in
June, with the fine, medium and lambswools all recording new seasons
highs.