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 currency indicator lifted by 1.04% with 93% of the 6,660 bales on offer selling, says NZWSI marketing executive, Malcolm Ching.
Ching says compared to the South Island sale on September 10, the North Island offering saw fine crossbred full fleece and longer shears ease 4 to 6% with less interest in this sector from the Chinese market currently.
Shorter shears were firm to 1.5% easier, with interest for these types continuing. Coarse full-length fleece were 2.5% cheaper with shears ranging from firm to 3% softer. Oddments were up to 2% easier.
Ching says China continues as the main market influence, supported by Western Europe, Middle East, and Australasia.
The next sale on September 24 comprises about 9,200 bales from the South Island.
