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.
Following falls averaging 4% at each of the two previous sales, it brings the overall fall this month to about 10%.
Of 16,500 bales offered at Wednesday’s (December 21) sale, 76% sold with Chinese, Australasian and European buyers the principals, supported by sparing interest from the Middle East and India.
WSI general manager John Dawson said mid micron fleece was firm to 2% easier except for the 29.5 to 30.5 micron bracket which dropped 6-9%.
Fine crossbred fleece and shears, 32 to 35 micron, were firm to 2% cheaper while coarse crossbred fleece and shears, 36 micron and coarser, were generally 1.5% easier. However, poorer styles in the North Island eased up to 5%.
Coarse long oddments saw lifts of up to 5% in the South and a firm to 2% drop in the North. Clothing oddments weakened 3-6% with the North Island affected the most.
The next auction is January 12, with 14,400 bales from the North and 9,600 bales from the South expected to be offered.
