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 eased 1.93% compared to the last sale on May 10.
Dawson advises a nominal offering of fine crossbred fleece was well supported, lifting by 3 to 3.5%. Coarse second shears remained firm. Lambs Fleece 2/4 inches and longer were firm to 1% stronger with the shorter types firm to 1.5% easier.
All oddments generally remained firm however direct comparison between the North and South Island types this season is difficult to achieve.
Limited competition with China dominating, supported by Western Europe, Middle East and India.
Next sale on May 24 comprises a reduced quantity of approximately 7,280 bales from the South Island.
