The final sale before the July recess closed in positive territory this week, with all types on offer continuing under ever-increasing competition from the trade. Sales commenced the week rather quietly with the market quoted as being just largely maintained in a week that saw over 40,000 bales being put to auction. However, the final day of selling brought on a vastly differing scenario, with overnight sales to China spurring the market into action. Whilst most sales were for further out delivery, this interest seemed to give the buyers the much needed confidence to re-enter the market with vigour.
By the close of the week, most Merino types were at levels of 15acents clean/kg dearer than the previous day, with some of the better style and strength types gaining 20 to 25acents clean/kg. The most sought after were the better quality superfine descriptions finer than 18.5 micron, which attracted premiums of nearly 80acents clean/kg compared to the lower quality wools within this micron category.
Click here to access AWI's Wool Market Weekly Report (pdf 733Kb).