Wool auction markets across Australia have finally enjoyed a week where all types headed strongly into positive territory. After last week’s effort of just maintaining price levels, this week commenced encouragingly, with relatively controlled minor price rises. The final day of selling brought about the real action though, as prices rapidly escalated across the entire type spectrum. Of the most major influence was the entry into the market of a single Chinese indent buyer, apparently keen on sourcing and completing several containers within the sale week. Fine and medium, 19.0 to 23.0 micron, Merino fleece types came under the most severe of the competition which seemingly spurred the rest of the market into action to follow upwards. The AWEX EMI (Eastern Market Indicator) concluded at 1025acents clean/kg, which represented an overall market rise of 23acents clean/kg. Individual types did much better, with several types appreciating by as much as 50acents clean/kg.
Click here to access AWI's Wool Market Weekly Report (pdf 743Kb).