Further gains in wool market with upswing of 117c/kg

Wool-balesThe wool market has had another strong week with prices on the rise and further gains experienced.

The continued market upswing was reflected by the AWEX Eastern Market Indicator gaining 44c on Tuesday and a further 51c on Wednesday to close this week off at 1117c, or in US dollar terms 801c.

The national offering was 30,513 bales and demand was strong with a 2.4% pass in rate as buyers look to cash in on the rising market. There has been some confidence restored to the wool market in recent weeks but with Europe and America currently undergoing a second wave with potential lockdown restrictions likely, only the one market is sustaining demand.

Online, the AuctionsPlus Offer Board saw plenty of buyer enquiry with 2,533 bales selling over the past 7 days, an increase of 2,027 bales on the previous week.

Online 14µ and 15µ micron fleece wool sold up to 1400c and 1605c greasy or 2055c and 2202c dry. 17µ and 18µ micron fleece wool sold up to 1300c and 1070c greasy or 1769c and 1566c dry. The top priced lot online this week was a line of 15.4µ Australian Superfine fleece wool.

This line is 0.3% vegetable matter and was 88mm in length. Offered by Jemalong Wool, the bale was branded BELLEVUE/JFF/ EUCUMBENE and sold for 1605c greasy or 2193c dry.

By Michael McManus & Zoe Macfarlane, AuctionsPlus 

UPCOMING SALES / EVENTS
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