The wool market opened back up again with an offering of 43,000 bales across all three selling centres.
There were lifts across all micron price guides with significant gains in 18 – 20 Micron Price guides at the southern selling centre, whilst the superfine wools 17.5µ and below bounced back after losses in recent weeks.
The largest price gains in the stronger market was again crossbred fleece as it was well supported. After a strong start on the first day of sales, in particular Sydney sales, the market eased a little on the second day and the week closed out with the AWEX EMI increasing 17ac to finish at 1960ac and a passed in rate of 6.4%.
Online buying also strengthened with 212 bales sold on AuctionsPlus wool. The lift in buying of superfine was also seen online, following the demand of the physical auctions, as 45 of the bales sold online were in the 17.5 and below Micron range.
The top price online was secured by a line of superfine Merino fleece 13.7µ micron at 2505c greasy or 3474c dry. Top price for 16µ and 17µ micron fleece wool was 1635c and 1665c greasy or 2437c and 2332c dry.
Top price for 18µ and 19µ micron fleece wool was 1445c and 1220c greasy or 2247c and 2075c dry. Top price for 20µ and 21µ micron fleece wool was 545c and 820c greasy or 1108c and 1598c dry.
This week there was 21 bales of crossbred fleece sold online ranging from 22µ -25µ Micron. Top price for crossbred fleece was a line of 25.1µ micron weaner fleece that sold for 800c greasy or 1071c dry.
Looking forward, there is a reported of 33,500 bales on offer next week, with around 8,000 in Sydney, 19,000 in Melbourne, 6,000 in Fremantle and 4,500 listed on AuctionsPlus Wool.
This significant drop in offering, coupled with the offerings predicted to decline for coming weeks, will no doubt have an effect on the market and buying sentiment for coming weeks.