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 unchanged with 87% of the offering sold.
Dawson advises steady enquiry and lower than expected wool flow is helping the market to stabilise.
Mid Micron Fleece 28 and 29 micron were up to 2% firmer with 30 micron 1.5% easier. Fine crossbred fleece were generally firm with the second shear types ranging from firm to 4% stronger.
Coarse crossbred fleece varied between Islands with the South up to 1.5% firmer and the North firm to 2% cheaper.
Overall the coarse shears were firm to slightly dearer. Short first lambs were firm in the North and between 1 and 4% easier in the South. Long coarse oddments were 3 to 5% cheaper with short oddments strongly contested lifting between 6 and 13%.
Competition was limited with China the principal supported by India, Europe, Middle East and the United Kingdom. The next sale on February 14 comprises about 7500 bales from the North Island and 6600 bales from the South Island.
