The wool market remained relatively firm last week, dropping 9c across the two sale days.
The AWEX fell 3c on Tuesday and then a further 6c on Wednesday, to close the week out at 1150c, or in US dollar terms 846c.
The market has remained steady in the last few weeks driven by a renewed sense of optimism for world markets after a string of successful COVID-19 vaccine news reports.
The escalation of COVID cases in America and Europe is still cause for concern, but with the renewed hope of a vaccine and the Australian economy steadily rebounding, the market is better placed from the previous lows.
The pass in rate closed at 11.8%, falling 7.9% from last week, largely due to the diminished supplies. The national offering failed to reach expectation, with only 36,535 bales offered of the expected 41,531.
The AuctionsPlus online offer board remained steady from the previous week, selling a total of 331 bales. 17µ micron wool sold up to 1155c/kg greasy, or 1280c/kg dry. 18µ micron wool sold to a top of 1085c/kg, or 1499c/kg dry.
The top priced lot was 17.2µ micron Merino Fleece AAAM wool which sold for 1280c/kg greasy, or 1785c/kg dry. This “BRENDABILLA/YNG” branded wool had 0.5% vegetable matter, 93mm in length and was offered by Beecher Wool Services.