New Zealand lamb wool prices jumped to their highest level in almost four years this week.
Lamb wool rose 3 per cent to an average $6.55 a kilogram from last week's auction, the highest price since April 2011, according to AgriHQ.
The average price for 35-micron wool, a benchmark for crossbred wool used for carpets and accounting for the majority of New Zealand's production, rose 1 per cent to $5.15/kg. The amount of wool offered for auction in the North and South Islands was down about a third to 14,000 bales from the previous combined auction.
New Zealand lamb wool prices have been steadily increasing this year, outpacing demand for other wool types.
China is the largest buyer of New Zealand wool, accounting for 52 per cent of the nation's $794 million in wool exports last year, according to Statistics NZ data.
