Around 42,000 bales of wool are on offer this week, with between 9,000 to 10,000 in Sydney and around 22,000 in Melbourne.
There is no doubt that this volume will test the market considerably although looking forward, offerings are predicted to decline for coming weeks.
A mixed week was reported at physical auctions across the three selling centres before the Easter recess but overall a slight change in sentiment was seen and ended a long streak of decline.
The Sydney sales were conducted at the Royal Easter show as hosted by the Royal Agricultural society of NSW.
The main contributors to the stronger market was crossbred fleece again well supported and 18 – 20 Micron Price indicators lifts at the southern selling centre, whilst the superfine wools 17.5µ and below were considerably cheaper at the close of auction, attributed to the large amount of drought affected wool.
After a strong start on the first day of sales the market eased on the second day and the week closed out with the AWEX EMI increasing 7ac to finish at 1943ac and a passed in rate of 10.3%.
Online buying also strengthened with 268 bales sold on AuctionsPlus wool, 217 of these bales selling Friday afternoon.
The majority of wool online following the demand of the physical auctions as 160 of the bales sold online were in the 18-20 Micron range.
Top price for 15µ and 16µ micron fleece wool was 1485c and 1362c greasy or 2339c and 2308c dry. Top price for 17µ and 18µ micron fleece wool was 1720c and 1625c greasy or 2269c and 2286c dry.
Top price for 19µ and 20µ micron fleece wool was 1413c and 1377c greasy or 2215c and 2243c dry. Top price for 22µ micron Merino pieces was 899c greasy or 1496c dry.
Top price for crossbred fleece was a line of 23.6µ micron weaner fleece that sold for 695c greasy or 1114c dry.