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.
Of the 21,900 bales on offer, 90% sold. The weighted indicator for the main trading currency compared to the last sale on December 19 was practically unchanged, lifting only 0.05% and having no impact on prices.
Dawson advises the range of types available in each Island influenced the market pressure, backed up by client requirements for urgent shipment. The overall effect is that inter Island price variations have now largely been removed with most types having similar values at both selling centres. The higher volumes of coarse short shears available were the only types to lose some ground.
Mid Micron remained firm.
Fine crossbred fleece and shears increased 2.5 to 6%. Coarse crossbred fleece and longer shears ranged from 1.5% to 8% dearer with the North Island lifting the most.
Short coarse shears were firm to 3.5% easier. Lambs fleece were 3 to 5% dearer. Long oddments ranged from firm to 5% stronger. Short oddments were firm to 7% dearer.
Strong competition was dominated by China supported by Western Europe, Middle East, India, United Kingdom and Australasia.
The next sale on January 17 comprises about 10,600 bales from the North Island and 6200 bales from the South Island.
