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.
Of the 13,230 bales eventually offered as growers continue to resist selling at these lower levels, 67% sold, which is a better result than the past two auctions.
The weighted indicator for the main trading currencies was down 0.6% compared to the last sale on April 19 having minimal impact on prices.
Dawson advises that fine crossbred wools eased up to 3%.
Good colour coarse fleece was 1% softer with poorer styles 2 to 3.5% cheaper. Long coarse shears were 1 to 2% easier with the shorter types 2 to 3.5% down.
First lambs were firm to 2% weaker. Second lambs and long oddments, which are generally better processing wools than comparative North Island types were 8 to 12% stronger.
Good style short oddments were firm with the poorer styles 7 to 12% dearer.
Limited competition with China and Western Europe continuing to dominate, supported by India, Middle East and Australasia.
Next sale on May 3 comprises approximately 7500 bales of North Island wools.
