This week saw the official final sale of the 2013/14 Australian wool season, although most industry participants consider the season finish is in a fortnight’s time. The Fremantle centre re-joined the selling scene, helping to boost quantities available to over 30,000 bales. Thankfully the auctions were much more buoyant than the past few sales, particularly in the Merino sector which is showing signs of hitting the bottom of the current cycle.
The positivity exhibited by buyers towards the close of selling last week carried through into this week, and after an unsteady start on Wednesday, all Merino prices basically stabilised around the established levels and pushed upwards towards the close of selling with the AWEX Eastern Market Indicator (EMI) at 1022 acents clean/kg. The crossbred market drifted lower for all descriptions on offer, but the 30 micron and broader sector showed some resilience. Cardings once again managed to track into higher territory, ending the season on a good note, in what must be the most stellar season for high prices in this area of wool production.
Click here to access AWI's Wool Market Weekly Report (pdf 467Kb).