Australasian wool and sheep markets adjust prices amid strong demand

New Zealand wool auctioneers reported a clear price correction at the first sale of the new season, with cross‑bred fleece prices falling 5‑8% after a year of record gains. Mid‑micron wool held firm, while other categories slipped, and the National Strong Wool Indicator dropped 53 cents. The next national auction is set for 16 July.

In Western Australia, sheep indicators are well above the previous year, with lamb carcass prices reaching 735 c/kg and Merino wether lambs breaking a $390‑$397 per head record. Industry manager Wayne Peake said demand remains strong, though upcoming processor shutdowns may ease competition. He expects reduced yarding numbers until new‑season lambs arrive and projects a tight mutton market ahead, while noting the wool market’s influence on pricing.