New data shows the exchange rate eroded any gain from improved wool prices in export markets last year.
Beef + Lamb New Zealand's economic service says that the average price per tonne of wool was down 8.8% to just under $4500 for the year to the end of June.
Executive director Rob Davison says this was despite prices for all wool types, except fine wool, being up on the year before.
He says 30% of the country's wool exports went to the European Union last year.
However, China remains the biggest export market taking 42% of the clip.
Strong crossbred wool makes up half of all exports.
