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 weighted indicator for the main trading currencies was barely changed, down 0.27%.
Coarse fleece and second shears generally firmed by up to 2.5%.
Merino and half-bred fleece prices followed the Australian trends of the past two weeks with prices declining.
Fine crossbred fleece and second shears came off the highs of the last South Island sale and settled around levels of last week's North Island offering.
Combing oddments were generally unchanged.
Competition was dominated by China with support from Western Europe, Australasia and India.
Next sale on the 5 October 5 comprises approximately 10,000 bales from the North Island.
