A rise in the wool market has seen wool buyers and exporters flow back online onto the AuctionsPlus Offer Board.
A favorable US to AUD exchange rate coupled with relatively cheap wool enticed overseas mills into the market.
The wool market is still directly impacted by COVID and will continue to be until a vaccine is widely available, however mills need to put wool onto machines and have not seen wool at these levels for years.
The market upswing was reflected by the AWEX Eastern Market Indicator gaining 20c on Tuesday and a further 6c on Wednesday to close this week off at 1022c, or in US dollar terms 727c. While in the west the West Australian indicator gained 30c to close off at 1054c.
Online the AuctionsPlus Offer Board saw plenty of buyer enquiry with 506 bales selling over the past 7 days.
Online 15µ and 17µ micron fleece wool sold up to 1252c and 1126c greasy or 1844c and 1604c dry.
The 18µ and 19µ micron fleece wool sold up to 1040c and 853c greasy or 1417c and 1208c dry.
The top price lot online this week was a line of 16.1µ AAA Merino Super Fine fleece wool. This line has the very low 0.2% vegetable matter, and was 84mm in length, this lot offered by Elders Melbourne, was branded EML/GLENHOLME and sold for 1283c greasy or 1765c dry.