Wool indicator surges to 1765c/kg

Wool markets record run to 1765c/kg


Market Analysis
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On Wednesday the Eastern Market Indicator hit a record 1765 cents a kilogram.

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WOOL prices have surged even higher for the last week of auctions this year and on Wednesday the Eastern Market Indicator hit a record 1765 cents a kilogram.

That’s more than 65c/kg higher than the previous record price of 1699c/kg set last week. 

Australian Wool Exchange market information manager Lionel Plunkett said at the Sydney auction yesterday the medium to broad microns were effectively 100c/kg dearer.

“Fine microns were less affected despite the lower spec lots posting similar gains as the broad microns,” he said.

“The smaller offering of spinner style limited competition on the better style and strength types.”

The Northern Market Indicator zoomed higher on the back of the auction result, hitting 1849c/kg, which was almost 70c/kg higher than last week.

The 18.5- to 20-micron wools also gained an average of 100c/kg. 

The average for 18.5-microns surged to 2222c/kg, 19.5 micron hit 2032c/kg, while 20-micron wool finished the sale averaging 1903c/kg.

Finer wools such as 16.5-micron averaged 2655c/kg.

At the southern market, Mr Plunkett said it was again propelled upward with confidence leaving last week’s levels behind by up to 100c/kg.

“Today (Wednesday) has again seen massive increases across all microns and all descriptions,” he said. 

“The 18-micron and finer has lifted 35c/kg, while 19 and coarser has increased a stunning 55c/kg to 60c/kg.”

The last eastern states sales for 2017 will be held today in both Sydney and Melbourne.

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