The AWEX Eastern Market Indicator (EMI) was back up, rising 8c to closeout at 1,428c/kg or 1,065c/kg is US dollar terms.
The passed in rate rose slightly, up to 13.4% from 12.6% last week suggesting that demand decreased at the same rate that supply did.
China remained the dominant buyer at physical selling centres due to their recent removal of an import quota. However, local and other international buyers provided a level of competition for the Chinese buyers.
The annual winter recess will commence this week which will last for three weeks, so will be interesting to see the level of supply after the recess and how this will impact demand.
The AuctionsPlus online offer board saw another increase in sales for the second consecutive week with 867 bales sold for the week.
The 18µ and 19µ micron wool were in demand this week with 114 and 125 bales sold, respectively.
The 18µ micron wool sold to a top of 1,495c/kg greasy or 2,106c/kg dry, and 19µ micron wool sold to a top of 1,380c/kg greasy or 1,788c/kg dry.
The top priced lot online was 3 bales of 15µ micron Merino fleece wool which sold for 2,335c/kg greasy or 3,354c/kg dry. This lot was offered by Nutrien Ag Solutions – Victoria, is “CHTL/GRY” branded, 69mm in length and had 1.9% vegetable matter.