This week’s Australian wool auction sales saw a remarkably resilient and strong market across the selection. Given that the volume for sale was near the largest of the season, prices held up well and most types and descriptions on offer posted gains to their standing values. The strength of the market, particularly in the Merino fleece sector, reportedly came as a shock to many exporters and overseas users. Most of these interests believed the sharp 80ac rise of 2 weeks prior had to be adjusted further downwards similar to last week, but this was far from the result. By weeks end the EMI (Eastern Market Indicator) had steadily increased to close at 1251ac/clean kg, a 1.4% gain or 17ac/ clean kg improvement, wiping out all of the losses of last week. The EMI is over 200ac/clean kg better than 12 months ago.
Click here to access AWI's Wool Weekly Market Report (PDF 580KB)