A SLIDING market last week did not give much confidence that wool will bounce into positive territory, but we have in the past seen a similar scenario.
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Last year the market was lifeless in the run up to the end of the financial year before the AuctionsPlus Wool recess sale showed an improving market that carried into the weeks that followed.
Not every year is the same, but there are hints about that the market can turn around as there are very small offerings in auction right now.
Wooltrade has just 14,188 bales listed this week, down slightly but sales were fairly constant.
Our top price goes to a seven bale, best style Merino weaner fleece lot offered by Shute Bell NSW and branded Marshall Pastoral Company.
This is the second week running Shute Bell has had the top price on Wooltrade and this lot was a standout with just 0.3 per cent vegetable matter, 80 millimetres of length, a solid 48 Newtons per kilotex of strength and 77.7pc yield and sold for 1416c/kg.
It's a credit to the producer for delivering such outstanding wool.
A couple of 19.5-micron Merino fleece lots from South Australia offered by Elders made up to 1189c/kg or about 40c/kg above the market, but these were again well specified except for the 2.3pc to 2.6pc vegetable matter.
A similar story for some top shelf 22s with two lots of 19 bales selling for about 20c/kg above the indicator.
Tony Benson is the market operations manager for AuctionsPlus and Wooltrade.