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.
Good clearances were seen with a 98% sold rate.
Fine crossbred fleece and early shorn gained 1.5% with 33.5 to 36 micron, 3/5 inch realising 2.5% above last South Island sale.
Thirty one to 34 micron, 3/4 inch rose to 1.5 to 2.5%, while 32 to 34 micron, 2/4 inch were 2.5 to 3% dearer. Thirty two to 33 micron, 2/3 inch were 1% cheaper.
Combing oddments were 3% dearer while clothing oddments were 1% dearer.
There was widespread interest with China dominating and supported by Middle East, Western Europe and India. The next sale on October 24 comprises about 7,600 bales from the South Island.
