The forward markets also indicated this strength with August September forward prices achieving near spot prices
The AWEX EMI closed the week on 1522c, down 2c for the week.
I believed the market would be slightly weaker on the opening day and close with a positive emotion.
Whilst the end result gave us a slightly weaker market I had not factored in the AUD appreciating a full cent for the week meaning that in US terms the market closed +15c for the week.
The 46,464 bales were met with keen interest with the Merino Fleece types attracting great support by the exporters.
Whilst the FNF lots were well above the ≥1.5% VM there was a renewal of the interest and price for this category.
Skirtings also had a strong week with the focus on the free lots. The crossbred sector was generally dearer with the coarse end of the spectrum which has had a limp outlook for some months now.
Cardings have had three week streak of poorer results, especially in the medium and heavy VM merino lots and there are huge holes in the coarse crossbred oddments which are at times in the very bottom of the price percentile.
All in all the season closing sale performed well and has demonstrated that the interest overseas is bullish with a very high price base on the merino sector.
What a great time to be in sheep and wool, possibly the most positive close to a season that I have seen.
The forward markets also indicated this strength with August September forward prices achieving near spot prices. The next report will be at the succession of the opening sale on the 7th August 2017.
-Marty Moses, Moses & Son, Temora