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An increase in the kiwi dollar made New Zealand’s exports less attractive which led to a decline in wool prices of the country.
Clean 35-micron wool prices, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's production, dipped to $5.74 a kg, down $0.21 a kg at yesterday's combined North and South Island wool auctions, as compared to $5.95 a kg last week.
Lamb wool slipped to $7.14 a kg, down $0.11 from $7.25 a kg last week.
