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.
Of the 6035 bales on offer, 90% sold. The weighted indicator for the main trading currencies was down 2.36% adding strength to local prices.
Dawson advises mid micron fleece were 2.5 to 3.5% cheaper. Fine crossbred fleece were up to 1.5% firmer with shorter types 2 to 4% dearer. Coarse crossbred full fleece were 2 to 3% stronger with shears firm to 2.5% dearer.
Long oddments were 3% stronger with shorter types up to 1.5% firmer.
There was limited competition with China, Australasia and United Kingdom most active, supported by Middle East and India. The next sale on August 29 comprises about 7600 bales from the South Island.
