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 compared to the last sale on July 11 was practically unchanged, easing by only 0.33%.
Steel advises the mid micron fleece compared to last time sold on June were 27 1 to 3.5% cheaper in line with easing markets elsewhere. Fine crossbred fleece and long shears compared to the sale on July 11 were generally firm.
Shorter shears were firm to 2% dearer.
Coarse crossbred fleece, where comparable were generally firm to buyers favour. Longer coarse shears were up to 2% cheaper with shorter types 1 to 2% dearer.
Long First Lambs were 5 to 8% stronger with shorter types ranging from 1 to 5% dearer. All oddments were 1 to 2% easier.
There was competition with China, Western Europe and the Middle East principal, supported by India, Australasia, United Kingdom and Asia.
The next sale on July 25 comprises about 6800 bales from the North Island and 6300 bales from the South Island.
