New Zealand Wool Prices Hit Highest Levels Since 2011 Amid Tight Supply and Surging Demand
Strong competition and tightening supply have seen wool reach its highest prices paid at auction since 2011.
The market was solid over the bulk of the offering which comprised mainly crossbred early shorn and second shear types.
Exporters are still under some pressure to cover committed shipments in the short term this enabled the market to remain firm. The weighted currency indicator virtually had little change at 0.7553 only down 0.05% compared to last sale on August 7.
Dawson advises that good colour fine crossbred fleece was strong with no change on a limited offering.
Fine crossbred early shorn and second shear 33 to 36 micron, 3 to 5 inch and 3 to 4 inch eased to 1.5% to 2.5%.
A limited offering of coarse crossbred fleece remained firm.
Coarse Crossbred Early Shorn and Second Shear 36 micron and coarser 3 to 5 inch and shorter were firm except 2 to 3 inch which were 1 to 2% dearer.
Crossbred oddments compared to last North Island sale on the July 24 were generally unchanged.
The next sale on August 21 comprises approximately 10,200 bales from the South Island only.
