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.
New Zealand Wool Services International Ltd's general manager, John Dawson, says the resurgent New Zealand dollar accounted for most of the local market slight weakness in some sectors, however in overseas terms most prices are unchanged or slightly dearer.
Of the 9,879 bales on offer 87% sold. The weighted currency indicator lifted by 0.59% compared to the last sale on June 26.
Dawson says fine crossbred fleece and shears were firm to 1% easier. Coarse crossbred good colour fleece was up to 1% dearer. Coarse shears were firm to 1.5% easier. End of season lambs fleece were nominally firm to 1% softer. Short oddments ranged from firm to 4% easier.
Interest was well spread with China, India, Australasia, Western Europe the principals, supported by Middle East and the United Kingdom.
The next sale on July 17 comprises about 10,060 bales from the South Island.
