The AWEX Eastern Market Indicator (EMI) rose 19c on Tuesday and then fell 4c on Wednesday, overall closing out the week up 15c at 1,350c/kg, or 978c/kg in US dollar terms.
Supply fell for the second consecutive week with only 32,475 bales offered this week.
However, a passed in rate of 14.4% was recorded, highlighting that despite a decreased supply, demand increased.
The lockdowns in both Victoria and New South Wales have made it increasingly difficult for buyers to attend physical auctions and is likely deterring wool growers from wanting to sell given the current conditions.
The Sydney wool selling centre has a designated superfine sale coming up next week, so it will be interesting how recent demand and supply will impact this special sale.
The AuctionsPlus online offer board saw a jump in sales this week as a total of 709 bales were sold for the period, up from 199 bales last week. The 20µ micron wool was in high demand last week with 222 bales selling to a top of 955c/kg greasy or 1,328c/kg clean.
The 19µ micron wool was also in high demand last week selling 155 bales with a top price of 1,235c/kg greasy, or 1,673c/kg clean.
The top priced lot for the week was 3 bales of 15.9µ micron Merino fleece wool which sold for 1,915c/kg greasy or 2,641c/kg clean.
This “JL/ROCKY/VALLEY” branded lot was offered by Nutrien Ag Solutions – Victoria, had 0.4% vegetable matter and was 93mm in length.