Wool sales were conducted across just two days this week and saw a strengthening of last weeks gains. Underlying demand for the 44,000 bales eventually oﬀered for sale was strong on the ﬁrst day of selling and only improved on Wednesday. Prices lifted across the board for all Merino fleece types and at all three centres with 10 to 20 cents per kilogram gains being common in Sydney and Melbourne. The upswing was the strongest in the west where gains across the Merino sector were from 20 to 35 cents.
The renewed support pushed the benchmark Eastern Market Indicator up 12 cents for the week in both Australian and US dollar terms to 1239 Aust c/kg and 944 US c/kg, showing genuine demand is behind the lift rather than just currency movements. Merino cardings also lifted slightly for the week to continue their long term strength.