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 down 2.04% compared to the last sale on 9th July.
Of the 7,900 bales on offer from the South Island, 88% sold with types suitable for in the grease shipments coming under strong competition.
Dawson says that compared to the South Island sale on 25th June, Mid Micron Fleece 24.5 to 27.5 microns were firm to 1.5% dearer with 28 and 29 microns coming down 1 to 4%.
Compared to the last time it was offered, at the North Island sale on 9th July, Fine Crossbred Fleece remained firm with longer shear types up to 3% dearer.
Coarse Crossbred Fleece were firm to 2% stronger.
Coarse Shears 3 to 5 inches were up 1 to 2%, 3 to 4 inches 2.5 to 4.5% dearer and 2 to 4 inch and shorter, 2 to 3% dearer.
Long Oddments were nominally 2% dearer with short oddments ranging from 1% cheaper to 2% dearer.
There was widespread interest for the wide cross section of types available, with Chinese shippers the most active, supported by Australasia, Western Europe, Middle East and India.
The next sale on 23rd July comprises approximately 6,000 bales from the North Island, down 32% on anticipated roster due to poor weather delaying shearing.
