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.
Recent poor weather has restricted shearing, creating a seasonal shortfall with the next South Island sale on June 19 now cancelled.
Of the 6,640 bales on offer 91% sold with some growers holding out for higher price levels.
The weighted indicator for the main trading currencies compared to the last sale on May 29 was down 0.7%.
Dawson advises that:
Fine Crossbred Fleece and Shears were 3 to 5% dearer. Coarse Crossbred Fleece and shears were generally 3 to 4.5% dearer with shorter shears up to 6% stronger.
Lambs Fleece were 2 to 4% dearer. Good style short oddments were up 3 to 5% with poor styles 6 to 9% stronger.
There was good competition with China, India, Western Europe and Australasia principals, supported by United Kingdom and the Middle East.
The next sale on June 12 comprises about 9,300 bales from the North Island, down 20% on anticipated rostered volumes.
