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.
Compared to the last sale on April 25 the weighted indicator for the main trading currencies hardly changed, firming 0.16%, having minimal impact on local prices.
Dawson reports ongoing supply issues due to severe weather events has disrupted wool flows with limited volumes now available over the coming weeks as winter approaches, pressuring exporters to find sufficient volumes to meet contracted shipping schedules.
Fine crossbred full fleece were 2 to 4% dearer. Longer fine crossbred shears were 3 to 4% stronger with shorter types ranging from 1 to 4% firmer.
Crossbred full fleece, good and poor styles lifted 3 to 4% with average styles improving 2%.
Coarse shears were 2 to 4% dearer. First Lambs ranged from firm to 4% stronger.
Long oddments were strongly contested, lifting 6 to 8%. Good colour short oddments were 4 to 6% with poor styles increasing 5 to 10%.
Main interest came from China, Australasia and India, supported by Middle East, Western Europe and United Kingdom.
The next sale on May 15 comprises about 8600 bales from the North Island.
