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.
Of the 22,600 bales on offer 80% sold with the balance retained in grower ownership.
The weighted indicator ended practically unchanged compared to the last sale on March 13, lifting 0.29%.
There were considerable variations between similar types in each centre, with the North Island market cheaper overall than South Island levels.
Steel advises that;
• Fine crossbred fleece and shears were firm to 4% easier.
• Coarse fleece and shears were firm to 2% cheaper in the South and 3 to 4% easier in the North.
• First Lambs were 1 to 3.5% cheaper with the North Island wools coming down the most.
• Coarse oddments ranged from firm to 4% cheaper.
There was limited competition with Australasia, China and United Kingdom principals supported by India, Western Europe and the Middle East.
The next sale on March 27 comprises about 9,600 bales from the South Island of which previously unsold grower owned wools makes up 25% of the selection.
