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 weighted indicator to the main currencies is unchanged compared to last South Island wool sale.
A reasonable offering of fine crossbred early shorn and second shear 3 to 5 inch and 3 to 4 inch wool of 35 and 36 micron were fully 4% dearer, whilst the shorter 2 to 4 and 2 to 3 inch were only 1% dearer.
Coarse crossbred fleece was 3 to 4% dearer. Coarse crossbred early shorn and second shear 3 to 5 and 3 to 4 inch were fully 3 to 4% dearer, with the shorter 2 to 4 and 2 to 3 inch 1% dearer.
A limited offering of lambs' wool was 2.5% dearer. Combing oddments which were of limited offering were 5% dearer, whilst a good selection of clothing oddments were firm.
Strong competition with China, Australasia Carpet Mills, Europe and the Indian continent.
The next sale on June 27 comprises about 13,000 bales from the North Island and 9500 bales from the South Island.
