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The combined North and South Island wool auction saw a 79% clearance, the highest this season, with prices generally increasing across the board.
An easier New Zealand dollar and slightly improved business activity caused the lift, New Zealand Wool Services International Ltd's general manager, John Dawson reports.
The combined North and South Island offering comprised 13,900 bales. The weighted indicator for the main trading currencies was down 0.85%.
Dawson advises that mid micron fleece, 25 to 30.5 micron, were 1.5 to 2.5% stronger. Fine crossbred fleece, 33 to 35 micron, were 3 to 4% stronger. Longer fine crossbred shears increased 4 to 6% with the shorter types, 2 to 4% dearer.
Coarse crossbred fleece and shears were firm to 3% dearer. A small selection of first lambs were nominally 1 to 2% firmer.
Coarse long oddments remained firm, however the shorter types were strongly contested with 2 to 4 inch wools increasing 6 to 10% and 2 to 3 inch up 2 to 4%.
Widespread interest with China, India and the Middle East dominating, supported by United Kingdom, Western Europe and Australasia.
The rostered sale on August 23 has been cancelled due to poor weather stopping shearing. The next sale is on August 30 comprising about 8400 bales from the South Island.
The recently signed free trade agreement with India is an invitation to strengthen relationships between the New Zealand and Indian strong wool industries, says Wool Impact chief executive Andy Caughey.
Strong competition and tightening supply have seen wool reach its highest prices paid at auction since 2011.
A collaboration between two New Zealand companies will see wool used as a renewable colour source for 3D printing.
OPINION: A bumper season all around.
The conversion of productive farmland into trees has pretty much annihilated the wool industry.
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