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 marketing executive, Paul Steel reports the currency factor had practically no influence this week with the weighted indicator firming only 0.11%.
Steel advises that most pressure came on the Chinese types with fine crossbred fleece firming 1% and the shears lifting between 3 and 7%.
Average style coarse fleece were 3 to 5% stronger with poorer styles 1.5 to 4% dearer. Coarse shears were generally 1.5 to 2.5% firmer.
Short, fine First Lambs were 1% dearer with coarser types generally 2 to 3.5% softer.
Long oddments lifted up to 5% with short oddments firm overall.
There was competition with China principal, supported by Australasia, Western Europe, Middle East, United Kingdom and India.
The next sale May 2 comprises about 4,900 bales from the North Island, down 34% on anticipated roster due to the shorter intake week and recent poorer weather conditions restricting shearing.
