Wool Market Bottoms Out, Prices Firm | Auckland News

New Zealand’s wool market is showing signs of recovery after a recent cooldown, with auction prices firming up—especially for premium longer wool—and signaling the worst of the correction may be over. Despite cautious international buyers, particularly from China, local auctions are posting gains, with average bale prices surpassing $560—a jump from last year’s $417. Tighter supply due to seasonal weather and reduced volume is expected to support prices moving forward, as exporters wait for stability before re-engaging overseas markets. The next auctions in mid-August could mark the start of a sustained upward trend. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/fd359b3d99946fe8