Lamb wool prices have dropped so low that some farmers won't recover the costs of shearing and getting it to market

Crossbred wool prices fell sharply at the latest auctions with lambs wool prices falling to near 10 year lows as Chinese buyers sat on the sidelines and the high NZ dollar took its toll.

The majority of lambs wool offered for sale was passed in at the latest North Island sale which is a particular worry with many lambs still waiting to be shorn.

It is feared that prices are now so low that many farmers will be unable to recover the costs of shearing, packing, cartage and selling and will be forced to sell at a loss.

At this week’s Napier wool sale prices for lamb’s wool were 10-20% down on the previous week’s sale and prices were generally softer for all wool types.

The full reports from the latest wool sales are available by clicking on this link.

Wool Indicator prices

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