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.
Although the South Island sale saw several categories at slightly lower price levels than last week's North Island sale, of the 10,362 bales offered this week, which was considerably more than anticipated, 75% sold. The passed-in wools were predominantly lots with inflated grower reserves.
The weighted indicator for the main trading currencies was unchanged compared to the last sale on November 1.
Dawson says merino fleece were firm to 4% cheaper. Mid micron fleece finer than 26 micron were firm to 3.5% dearer, 26.5 to 30 micron were up to 4% cheaper with 30.5 to 31.5 microns up to 6% dearer. Fine crossbred fleece generally remained firm. Longer fine crossbred shears were 1.5 to 4.5% dearer with shorter types firm. Coarse crossbred fleece were generally buyers favour. Longer coarse shears were up to 1.5% easier with shorter types 1 to 3% cheaper. Oddments were 7% stronger.
Good competition with China, India and Western Europe principals was supported by Middle East and the United Kingdom.
The next sale on November 15 comprises about 9125 bales from the North Island.
