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 increased by 0.42%.
Dawson advises a small selection of Mid Micron wools followed other market trends and eased between 4 to 6%.
Fine crossbred fleece and shears were firm to sellers favour.
Coarse crossbred fleece were firm to 1.5% dearer. Coarse early shorn were firm with longer shears firm to 1.5% stronger and shorter shears firm to 3% dearer.
First lambs and long crossbred oddments remained firm with short oddments generally in buyers' favour.
There was limited activity with many growers reluctant to sell at current levels. Main competition came from China, India and Western Europe, supported by Middle East and Australasia.
The next sale on August 16 comprises about 7500 bales from the North Island and 6300 bales from the South Island.
