A 51 cent a kilogram average lift in the wool market pushed the Eastern Market Indicator to 1500c/kg this week.
At the close of the market yesterday the 18-micron wools had risen 84c/kg to average 2101c/kg, while 21-micron wools were up 66c/kg to hit 1508c/kg.
The Northern Market Indicator was up 52c/kg on the same time last week to settle at 1582c/kg.
Australian Wool Exchange (AWEX) market information manager Lionel Plunkett said the indicator continues to explore uncharted territory.
“The EMI has risen seven out of eight selling weeks in 2017 making it the best start to a calendar year since 2011,” Mr Plunkett said.
“The Micron Price Guides in the 18.5- to 20-micron range are all at record levels for the AWEX series (since 1995) but still have some distance to go before eclipsing the record levels set in 1988.”
Mr Plunkett said from the opening bid on the first day of selling in the eastern states markets prices jumped quickly and continued to strengthen all the way to fall of the final hammer in the western region.
“Once the dust had settled on a hotly contested auction, prices had generally increased by 30c/kg to 50c/kg for the day,” he said.
“The second day of selling saw more price increases, the largest rises occurring in the eastern markets as they caught up to the levels achieved in Fremantle the previous day.
“The EMI managed to add a further 19 cents to the 32 cent lift it achieved on day one.”