FEBRUARY has continued where January left off for the wool market.
A weaker Australian dollar coupled with renewed interest from overseas mills no doubt affected the market positively for growers.
The AWEX Eastern Market Indicator closed off last Thursday at 1934 cents a kilogram, 196c/kg ahead of where the EMI was this time last year. In US dollar terms last week’s EMI sits at 1405c/kg.
Buyer interest spilled over to AuctionsPlus Wool, with 291 bales selling online.
Strong overseas interest, in particular from India and China coupled with a lack of quality supply, saw buyers seeking crossbred fleece wool, with 133 bales selling.
Online 17- and 18-micron wool sold up to 2001c/kg and 2232c/kg (clean), while 20- and 21-micron fleece 2262c/kg and 2157c/kg.
The top price online was a line of AAA Merino 19.7-micron fleece wool. This lot sold for 2219c/kg, was branded PF/H and sold by Elders Melbourne.
Crossbred wool was topped by a line of 25.5-micron fleece also offered by Elders Melbourne, branded DELTROIT and sold for 1268c/kg.
There is an estimated 39,000 bales on offer nationally. In Sydney there’s a smaller supply with only 7500 bales, however, the Melbourne auctions more than make up with 22,900 bales to be offered.
It is expected that the market should continue to offer consistency for growers, brokers and buyers alike.
The limited supply will keep the market buoyant in the short term.