Wool market indicator surges to 2116c/kg

Wool market indicator surges to 2116c/kg


Sheep
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The Northern Wool Indicator was up an astounding 136c/kg on Thursday to hit 2163c/kg.

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THE wool market’s record run continued on Thursday with the Eastern Market Indicator bolting to a high of 2116 cents a kilogram.

The surge in prices for most wool categories was more than 100c/kg and much more for some well-prepared lines. 

The record-breaking prices were on the back of a solid market on Wednesday where a 99c/kg rise was the largest daily increase since 2002.

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AWEX market information manager Lionel Plunkett said currency movement, a reduced offering and buyer concern over upcoming supply have all contributed to producing a remarkable week.

“Some small faults were increasingly overlooked as buyers attempted to secure meaningful quantity in the rapidly rising market,” Mr Plunkett said.

“Worth noting, the regional market indicators, and the individual micron price guides for 18- through to 21-micron, rose to unprecedented levels in all three selling centres.”

The Northern Indicator was up an astounding 136c/kg on Thursday to hit 2163c/kg. 

Individual micron price guides climbed even higher, such as the 18-micron indicator, which settled on 2682c/kg - up 204c/kg on last week’s market.

Many of the big rises in Sydney were at the fine end of the market – 17-micron hit 3007c/kg (up 191c/kg), while 19-micron settled at 2465c/kg (up 173c/kg).

Crossbred wools also recorded strong gains. The 26-micron price guide was 77c/kg dearer at 1507c/kg and the 30-micron wools were up 61c/kg to average 709c/kg.

The strength of the market was also reflected in the passed-in rate, which on Thursday sat at just 1.5 per cent.

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