THE wool market bounced back last week to record the largest rise since Australian Wool Exchange began reporting back in 1995.
The market had gains across all categories as commission buyers led the way and were followed by traders and other overseas mills.
The market recovered back to a point close to where it was at in late 2017.
The positivity was reflected by the AWEX Eastern Market Indicator gaining 130 cents a kilogram and then 40c/kg on Wednesday and Thursday to close off at 1535c/kg.
The US/China trade war is still heavily influencing the market however it is reported that overseas mills rushed the market.
Buyers headed to AuctionsPlus Wool and scrambled to fill orders. There were 1509 bales sold throughout the week.
Online, 15- and 17-micron fleece wool sold up to 1210c/kg and 1253c/kg (greasy) or 1955c/kg and 1800c/kg (clean); 18- and 19-micron fleece wool sold up to 1330c/kg and 1200c/kg (greasy) or 1855c/kg and 1714c/kg (clean).
The 20- and 21-micron fleece wool sold up to 1270c/kg and 1200c/kg (greasy) or 1789c/kg and 1765c/kg (clean).
The top priced lot sold online last week was a line of SUP AAAA 16.4-micron fleece wool with 0.3 per cent vegetable matter.
This lot was offered by Landmark Sydney, branded TA/F IN DIA/CONGI/NEW ENGLAND and sold for 1615c/kg (greasy) or 2307c/kg (clean).
Carding and combing wools also sold online last week.
Merino pieces were topped by a line of 16.6 micron with 1.6pc vegetable matter, selling for 1020c/kg (greasy) or 1648c/kg (clean).
The 18- and 19-micron Merino pieces sold up to 830c/kg and 700c/kg (greasy) or 1436c/kg and 1289c/kg (clean).
The overall wool market is in for a rocky road.
Until the trade war is resolved the market will continue to be volatile.
Sharp rises and falls like the past few weeks should not be unexpected.
