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 indicator for the main trading currencies was practically unchanged compared to the last sale on February 28, firming by 0.23%.
Dawson advises the fine crossbred fleece was generally slightly dearer with the shear types firm to 2% stronger.
Coarse crossbred fleece were firm to 6% stronger with the average and better style wools lifting the most. The coarse shears were firm to 3% stronger.
First lambs were also firm to 3% dearer. Oddments were 1.5 to 7% stronger with North Island wools gaining the most.
Limited competition with China dominated, supported by Australasia, Western Europe, India, Middle East and United Kingdom.
The next sale on March 14 comprises about 9,500 bales from the South Island.
