The wool market has continued its uphill trajectory, edging above 1000 cents a kilogram for the first time since early August.
The Australian Wool Exchange Eastern Market Indicator (EMI) increased 59c/kg to 996c/kg last Tuesday and then picked up a further 40c/kg on Wednesday to finish the week at 1036c/kg - or US739c/kg.
The pass in rate fell further from the previous week to 2.6 per cent, indicating a good level of buyer confidence.
Tightened supplies that have been evident at the physical auctions in the past few weeks have been a major contributor to the rising wool market.
But growers may now not be so reluctant to sell at the current higher prices, and this could lead to a surge in volumes offered in the coming weeks - with potential for the market to peak as supply outpaces demand.
With only one market in China currently operating, and many external influences having a big effect, the current uphill trajectory may not be sustained.
The online offer board may have just experienced its busiest week to date, with a total of 1468 bales sold last week.
The bulk of this was sold last Tuesday and Wednesday - with 645 and 436 bales cleared respectively.
The top priced lot was for 15.9-micron Merino weaner fleece that reached 1245c/kg (greasy), or 1671c/kg (clean). It was offered by Australian Wool Network, branded The Gums, and had a staple length of 88 millimetres coupled with a low vegetable matter content of 0.4 per cent.
At the superfine end, 15 and 16-micron wool sold up to 1245c/kg and 1210c/kg (greasy), or 1671c/kg and 1673c/kg (clean), and 17 and 18-micron wool sold up to 1145c/kg and 1000c/kg (greasy), or 1589c/kg and 2395c/kg (clean).
Lines of 19 and 20-micron wool sold up to 900c/kg and 780c/kg (greasy), or 1210c/kg and 780c/kg (clean), and 21 and 22-micron wool sold up to 800c/kg and 660c/kg (greasy), or 1083c/kg and 1044c/kg (clean).
Merino pieces sold to a top of 1110c/kg (greasy), or 1746c/kg (clean), and Merino bellies sold to a top of 1110c/g (greasy), or 1642c/kg (clean).
Looking ahead, the current optimism in the market is a welcome change.
There are an estimated 33,000 bales to be offered at the physical auctions this week and all three selling centres are operating.
Early reports suggest the market should hold the ground that has been made up recently, with current offers a much more attractive option to sell for growers and brokers alike.