The national wool offering increased to 50,836 bales last week at physical selling centres, with prices also rising.
There was a 4c rise recorded on Tuesday, a 19c jump on Wednesday, and a further 7c increase on Thursday – closing out the selling week at 1,342c/kg.
Despite the increase in bales offered, demand was robust, with a 6.6% pass in rate for the week.
The Northern selling centre experienced the largest increase this week, up 24c, to close out at 1,421c/kg on Wednesday.
As prices continue to steadily increase, Australian wool production appears to be bouncing back with a predicted 2.1% rise in shorn wool production from 2020.
The physical markets saw medium and broader wool types gain interest, which was also reflected on the AuctionsPlus offer board where 18µ to 20µ micron wool accounted for 49% of sales.
While Chinese orders were pending, there was enough interest from other international buyers to stimulate competition in the Australian market.
The AuctionsPlus online offer board experienced a boost this week with 1,108 bales sold for the period, an increase of 904 bales.
The 64 bales of 15µ micron wool were sold this week, to a top of 2,070c/kg greasy, or 2,875c/kg dry.
The 16µ micron wool was in high demand with 120 bales sold, topping at 1,835c/kg greasy, or 2,503c/kg dry.
The top priced lot online for the week was 2 bales of 14.9µ micron Australian Superfine SUPAAAFINE wool selling for 2,115c/kg greasy or 3,019c/kg dry.
This “CURRAWONG/TYO/ASWGA AB/299” branded lot was 79mm in length, has 0.3% vegetable matter and was offered by Nutrien Ag Solutions – Victoria.