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 Auckland port dispute further impacted on exporter cash flows with some deferred shipping due to lack of containers.
South Island price levels have now come more into line with their North Island counterparts.
The weighted indicator for the main trading currencies compared to the last sale on the March 22 was marginally stronger by 0.5%.
Compared with last week's South Island sale Crossbred Fleece was generally up to 5% cheaper, Early Shorn Second Shear 2.5% cheaper and Short Length Second Shear 2.5 to 5% cheaper. Lambs were up to 3% cheaper. Oddments were 2.5 to 5% cheaper. Compared with last week's North Island sale prices were generally firm with the exception of Lambs which are still 1% above North Island values.
The next sale on the April 4 comprises approximately 12,000 bales of North Island wool.
