The wool market’s roller-coaster ride continued last week seeing the market gain some of what was lost the previous week.
Most types saw buyer interest as overseas business was conducted. This resulted in buyers heading online to secure wool.
AuctionsPlus Wool had 58 different grower brands achieve a sale, totalling 617 bales for the week.
The market upswing was reflected in the AWEX EMI gaining 18c and a further 14c on Wednesday and Thursday to close off at 1543c, or in US dollar terms 1041c.
The West Australian indicator leapt 43c to close off at 1653c. Online 16µ and 17µ micron fleece wool sold to a top of 1300c and 1285c greasy or 1808c and 1912c dry. 18µ and 19µ micron fleece wool sold to 1270c and 1228c greasy or 1781c and 1769c dry. 20µ and 21µ micron fleece wool sold to a top of 1219c and 1220c greasy or 1712c and 1660c dry.
The top priced lot sold online this week was a line of 15.4µ micron AAA Merino fleece wool, which had 1.4% vm, and was 93mm in length.
This lot was branded I&B/T ALL IN A DIA, offered by Elders Melbourne and sold for 1390c greasy or 2032c dry.
Merino pieces were topped by a line of 16.7µ micron, 79mm pieces offered by Elders Sydney.
This lot has 2.9% vm, was branded DF/CROYE and sold for 1110c greasy or 1726c dry. Looking forward, there is approximately 40,000 bales available across all selling centres.
This week is a designated Superfine week at Sydney. Reports indicate some very well presented clips, although many are showing more dust than they normally would carry. High yielding types are expected to draw keen buyer support.
The yo-yoing market is not set to change anytime soon.
Speaking with industry, many pundits won’t commit to which way the market is going to open due to its current volatility.
As one buyer said, if a grower doesn’t need to sell their wool immediately, they stand as much of a chance of catching the upswing as they do a downswing.
-Tom Rookyard, AuctionsPlus