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 increased by 0.42% compared to last sale on November 29 with little impact in most areas.
Dawson says recent renewed activity from China has helped stimulate the finer sector of the market with carpet types generally holding their ground.
Mid micron fleece strengthened 1.5 to 5%. Fine crossbred full fleece ranged from firm to 5% stronger. Fine crossbred shears 2 to 4 inches to 3 to 5 inches were generally 2 to 5% dearer with only the shorter types decreasing by up to 3%.
Coarse crossbred fleece and shears were generally firm to buyers favour. First lambs fleece were firm to 2% dearer.
Long oddments were buyers favour with shorter types firm to 4% stronger.
China dominated the market with limited support by Western Europe, Middle East, United Kingdom, India and Australasia.
The next sale on December 13 comprises about 7200 bales from the North Island.
