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Wool Market Bottoms Out, Prices Firm | Auckland News
New Zealand’s wool market is showing signs of recovery after a recent cooldown, with auction prices firming up—especially for premium longer wool—and signaling the worst of the correction may be over. Despite cautious international buyers, particularly from China, local auctions are posting gains, with average bale prices surpassing $560—a jump from last year’s $417. Tighter supply due to seasonal weather and reduced volume is expected to support prices moving forward, as exporters wait for stability before re-engaging overseas markets. The next auctions in mid-August could mark the start of…
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