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 hardly moved compared to the last sale easing by 0.26%.
Dawson says compared to the last time sold in the South Island on September 27, Merino fleece finer than 19.5 micron were firm to 2.5% dearer with 20 to 24.0 micron 2 to 4% stronger.
Mid micron fleece 25 to 27 micron was 4% stronger and 28 to 31.5 micron 2% dearer.
Compared to the last sale in the North Island on October 4, fine crossbred Fleece were up to 5% dearer. Fine crossbred shears 3/5 to 2/4 inches were 4 to 5% stronger with 2/3 inch wools buyers' favour.
Coarse crossbred fleece were firm to 2% dearer. Coarse crossbred shears 3/5 inches remained firm with 3/4 and 2/4 1.5 to 4% stronger. The 2/3 inch shears were 1% easier.
Crossbred oddments were generally up to 5% stronger.
Well spread competition with China, India and Western Europe principals was supported by United Kingdom, Middle East and Australasia.
The next sale on October 17 comprises about 8660 bales from the North Island.
