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.
Compared to the last sale on December 19 the currency indicator firmed by 0.45% having minimal impact on the market.
Dawson advises the first sale after the Christmas break was well supported assisted by the cancellation of the rostered South Island sale and limited anticipated volumes available next week.
Fine crossbred fleece and shears of good and poor colour were firm to 1% dearer with average styles lifting 5%. Coarse crossbred fleece of good and poor colour were up 2 to 3% with average styles 5% stronger.
Coarse shears were generally 1 to 2% firmer except average style 3 to 5 inches and better style 3 to 4 inches 5 to 7% dearer. Short first lambs fleece remained firm. Long oddments were 1% firmer with short oddments firm to 4% easier.
There was limited competition with China and Australasia dominating, supported by Western Europe, Middle East and India.
The next sale on January 16 comprises about 10,300 bales from the North Island and 7600 bales from the South Island.
