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.
The weighted indicator for the main trading currencies strengthened slightly by 0.14%, having no effect on the market.
Dawson says merino fleece prices when compared to last sold on November 8, 18 micron and finer eased 3 to 4% bringing them to the same market level as their Australian counterparts.
Mid Micron Fleece 26 to 28 micron were firm to 1% dearer with 28.5 to 31.5 microns 2 to 5% stronger.
Compared to the last sale on November 15, fine crossbred fleece 32 to 35 micron were firm to 4% dearer. Longer shears were 2 to 4% stronger with shorter types generally firm.
Coarse crossbred fleece 36 micron and coarser were firm to 1% dearer. Longer shears were firm to 3% stronger with 2 to 4 inch firm and shorter types 1 to 2% easier.
Oddments were firm to 3% stronger.
There was competition with China, India and Western Europe principals, supported by United Kingdom, Middle East and Australasia. The next sale on November 29 comprises about 8500 bales from the North Island.
