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 remained unchanged compared to the last sale on May 21. Of the 8,900 bales on offer, 94% sold.
Steel says that fine crossbred longer shears remained firm with shorter types lifting between 2% and 6%. Good colour coarse fleece were firm to 1.5% easier, average style firm and poor colour 2.5% to 5.5% dearer.
Long coarse shears were firm to 3.5% cheaper with shorter types down 4% to 6%.
Long lambs fleece were 3.5% dearer, 2 to 4 inches up 1% to 2% with shorter types firm to 4% cheaper. Long oddments were 4% to 7% dearer with good colour short oddments 4% dearer and poor colour 3% to 6% easier.
Good competition with China continues to dominate, supported by Australasia, India, Middle East and Western Europe.
The next sale on June 4 comprises about 7,100 bales from the South Island.
