EASTERN states wool producers selling fleece this week had reason to celebrate as the markets surged nearly 70 cents a kilogram to an average of 1422c/kg.
The Northern Market Indicator also jumped 78c/kg to settle at 1490c/kg yesterday.
Australian Wool Exchange market information manager Lionel Plunkett said at 1442c/kg it bring the Eastern Market Indicator to its highest level in five-and-a-half years and only 3c/kg short of the all-time high in 2011.
“Sentiment on the first sale day of the new calendar year was extremely positive from the outset when Melbourne sold in isolation on Tuesday,” Mr Plunkett said.
“Sydney and Fremantle joined the selling roster on Wednesday and the rises continued.
“Thursday was more subdued but still managed increases of 20c/kg to 30c/kg.”
Across the categories there were rises of 70c/kg to 150c/kg.
Mr Plunkett said the finer microns enjoyed the most support and extended their premiums over the broader microns which had less extreme rises.
“Buyers scrambled for quantity for most of the week, pushing lower spec types along with the better types,” he said.
