The Eastern Market Indicator finished the financial year at 2056 cents a kilogram – up nearly 35 per cent on the same time last year.
Across the three selling centres the trends were mixed. Both Sydney and Melbourne couldn’t keep the dearer momentum of past week’s auctions, while Fremantle was on average 55c/kg stronger.
Landmark risk manager for wool Anthony Boatman said the last Sydney sale for the season started slowly as buyers became more selective with 10,581 bales on offer.
“Prices generally fell back on Wednesday by about 20c/kg for both Merino and crossbred wool,” Mr Boatman said.
“The Merino lots with good strength, low mid-break and low vegetable matter did best.”
Mr Boatman said buyers at the Sydney auctions were more interested in the Merino lots on offer on Thursday and prices rose, recovering some of the lost ground.
When all was said and done, the Northern Market Indicator settled at 2088c/kg, which was 22c/kg cheaper than at the same time last week.
Australian Wool Exchange market information manager Lionel Plunkett said during this week’s auction the finer microns were the hardest hit in the softer market, resulting in 18.5 micron and finer generally falling by 20c/kg to 40c/kg.
“The 19.5 to 20-micron were less affected and were 10c/kg to 20c/kg easier,” Mr Plunkett said.
He said next week was the first sale of the 2018-19 season and that’s typically one of the larger sales, as sellers want to sell into the new financial year.
“Currently, there is 43,232 bales rostered for sale,” he said.