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 was a 55% clearance with many farmers again refusing to sell at these lower levels.
The weighted indicator for the main trading currencies was down only 0.29% with limited market activity and high client stock levels again being the main market influencers.
Dawson advises Fine Crossbred Shears as well as the Coarse Fleece and Shears softened 3 to 5%.
Lambs Fleece 30 micron and finer went against the trend remaining firm to 3% stronger, however the Coarser types were firm to 1%easier. Second Lambs eased 2 to 3%.
Short Oddments also eased 2 to 3%.
There was restricted competition with China and Western Europe principals and limited support elsewhere.
Next sale on Friday, April 27 (due to the mid-week National holiday) comprises approximately 14,000 bales from the South Island.
