By Mark Dyson - Quality Wool
The wool market continued where it left off last week, with incredible gains throughout the Merino wool sector once again this week.
A lower national offering of just under 21,000 bales (no Fremantle sale) coupled with a fall in the Australian Dollar to trade under 74 US cents created the perfect storm, as the Eastern Market Indicator (EMI) increased by 52 cents for the week to finish at 2073 cents per kilogram clean.
Buyer competition to secure supply was strong from the start of selling as the trade tried to cover orders, particularly as it’s now only three weeks until the annual mid-year sale recess.
Gains of 66-86c/kg clean were seen for the 16-22 micron categories, with strong bidding on wool expressing best style characteristics and strength above 40n/kt (if only the increases in values could be reflected in millimetres of rainfall across many parts of the country).
Merino Skirtings added a further 20-40c/kg clean, with lower fault types being keenly sought after.
The recent trend continued for the crossbred types, with the finer 25-28 micron types making further gains of 28-37c/kg clean and the broader 32 plus micron types trending in buyers favour.
Carding wool types, locks, crutchings and stains all made gains of 20-30c/kg clean with a limited supply of lambswool types extreme at times.
Next week’s final wool sale for the season sees the national wool offering increase to 32,528 bales, with all selling centres in operation.