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.
There are wide price ranges between the selling centres, he says
Compared to the last sale on June 14 the weighted indicator for the main trading currencies is up 2.29% accounting for most of the softer market week last week with 65% of the offering selling.
Dawson reports that last week's South Island offering compared to the week before's North Island sale was generally firm to 4% easier. Longer Fine Crossbred Shears were firm to 3% softer with the shorter types resisting the trends and firming up to 4%.
Coarse Crossbred Fleece was also firm to 4% down. Coarse Shears 2/4 and longer ranged from 2 to 5% easier with the shorter types 1.5% dearer.
First Lambs were 2 to 5% down. Coarse Oddments were 3 to 4% cheaper.
When compared to the previous South Island offering on June 7, levels range from firm to 6% cheaper, however the price wool is trading at internationally is relative to the North Island market movement and currency impact.
Limited competition with China, United Kingdom and Western Europe principals, supported by India, Middle East and Australasia.
Next sale on June 28 comprises about 13,600 bales from the North Island and 6,200 bales from the South Island.
