FOR the sixth week in a row the wool market has been dearer and this week the Eastern Market Indicator hit 1944 cents a kilogram.
That’s 10c/kg higher than last week and up 126c/kg on this time last year.
Wednesday’s sales were mostly stable and most of the big price gains were made during Thursday’s sale.
- Australia Day medal for superfine wool grower
- Measured and visual best approach when using ASBVs
- Wool rises as dollar slides
“The second day of selling, buyers became more aggressive in their approach, resulting in price increases across the board,” Australian Wool Exchange market information manager Lionel Plunkett said.
He said the prices being realised were generally 10c/kg to 20c/kg above those achieved in the previous week.
Some of the highlights were 18-micron wool lifting an average of 46c/kg to hit 2483c/kg, while the finer 16.5-micron wools were 42c/kg dearer at 2622c/kg.
At the same time, the national offering increased slightly with 39,894 bales available to the trade.
“Although quantities increased on the previous week, the current AWEX four week forecast is showing a continual reduction in quantity over the coming month,” Mr Plunkett said.
“This forecast has led many exporters to attempt to secure meaningful quantity, while it is still available.”