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 10,000 bales on offer 97% sold. The weighted indicator for the main trading currencies compared to the last sale on January 15 was down 1.63%.
Steel advises fine crossbred fleece and shears were 1 to 4% dearer.
Coarse crossbred fleece were 1 to 3% stronger with shears generally firm to 2% dearer.
First lambs finer than 27.5 micron came under strong competition, lifting 7% with the balance 1.5 to 2.5% stronger.
Long oddments were 4 to 6% dearer with short good colour oddments firm and poorer styles up 4%.
There was well spread interest with China, India and Australasia dominating, supported by Western Europe, Middle East and the United Kingdom.
The next sale on January 29 comprises about 9,000 bales from the North Island and 12,800 bales from the South.
