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.
New Zealand Wool Services International general manager, John Dawson says that despite dramatic currency movements in some sectors, the weighted indicator for the main trading currencies eased only 1.53%, having limited impact on local prices.
He says that hand to mouth customer buying activity and limited seasonal wool volumes combined with current exporter shipping requirements, underpins the market presently.
Fine Crossbred Full Fleece and shorter shears were firm to 2.5% easier with longer shears up to 2% dearer.
Good style full Crossbred Fleece were 1% easier, average 1% firmer and poor firm to 1% cheaper.
Coarse Shears were firm to 2% easier with shorter types affected the most.
Long Lambs Fleece were firm to 1% dearer, with shorter types 1 to 3% cheaper. Long Oddments lifted by up to 3% with good colour
Short Oddments 1 to 2% easier and poor styles firm.
The auction saw limited activity with China principal, supported by Australasia, India, Middle East and Western Europe.
The next sale on May 7 comprises about 6700 bales from the South Island, down 32% on anticipated rostered quantities.
