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 was 0.71% lower than the last sales on February 21, adding impetus to local price levels.
Dawson says a small offering of Mid Micron wool 25 to 29 microns were nominally 2% dearer.
Fine Crossbred Fleece 32 to 35 micron were firm to 3% stronger with the Second Shears firm to 1% dearer.
Good style coarse carpet fleece were 1.5 to 2.5% stronger with the poorer styles 2.5 to 4% dearer. Longer coarse shears increased 1.5 to 4% with the shorter types firm to 2.5% dearer.
First Lambs Fleece 31 micron and finer were 1 to 3% dearer with coarser types 3% stronger.
Combing oddments lifted by 3 to 4% with shorter oddments firm to 2% dearer.
Competition was good among China, India and Australasia principals, supported by Middle East, Western Europe and the United Kingdom.
The next sale March 7 comprises about 16,000 bales from the North Island and 8800 bales from the South Island.
