Astonishing results arose from this week’s wool auction sales across Australia. In perhaps one of the more stunning weeks of selling, all wool types and descriptions, apart from cardings, rose by margins ranging from around 4% for the higher priced wools to a staggering 17% on the broadest wools of the long suffering crossbred sector. The charge came solely from China, with a few of the larger users looking to fill their wool production pipelines.
Following last week’s impressive commencement to the new selling season, the AWEX EMI (eastern market indicator) forged into record territory, with consecutive days of breaking the highest levels ever seen. By the weeks close the EMI settled at 1614ac clean kg which is 316ac or almost 25% higher than at the same period of last season. The week produced a gain of 64ac clean/kg or a 4.1% addition to local wool values within just seven days. When quoting the EMI in USD, the figures are even more startling, with a 28% or 280usc clean/kg advance in prices in 12 months. The EMI in USD finished the action this week 5% higher at 1281usc clean/kg or an increase of 61usc.
Click here to access AWI's Wool Weekly Market Report (PDF 941 KB)