Volatility has everyone guessing next move

Volatility has everyone guessing wool market's next move

Sheep
Many wool industry pundits won't commit to which way the market is going to open next week due to the current volatility.

Many wool industry pundits won't commit to which way the market is going to open next week due to the current volatility.

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The wool market's roller-coaster ride continued last week, which saw the market gain some of what was lost the previous week.

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The wool market's roller-coaster ride continued last week, which saw the market gain some of what was lost the previous week.

Most types saw buyer interest as overseas business was conducted, resulting in buyers heading online to secure wool.

AuctionsPlus Wool had 58 different grower brands achieve a sale, totalling 617 bales for the week.

The market upswing was reflected in the AWEX Eastern Market Indicator gaining 18 cents a kilogram and a further 14c/kg on Wednesday and Thursday to close off at 1543c/kg, or in US dollar terms 1041c/kg.

The Western Australian indicator leapt 43c/kg to close off at 1653c/kg.

Online, 16 and 17-micron fleece wool sold to a top of 1300c/kg and 1285c/kg (greasy) or 1808c/kg and 1912c/kg (clean). 18 and 19-micron fleece wool sold to 1270c/kg and 1228c/kg (greasy) or 1781c/kg and 1769c/kg (clean). 20 and 21-micron fleece wool sold to a top of 1219c/kg and 1220c/kg (greasy) or 1712c/kg and 1660c/kg (clean).

The top priced lot sold online this week was a line of 15.4-micron AAA Merino fleece wool, which had 1.4 per cent vegetable matter, and was 93 millimetres in length.

This lot was branded I&B/T ALL IN A DIA, offered by Elders Melbourne and sold for 1390c/kg (greasy) or 2032c/kg (clean).

Merino pieces were topped by a line of 16.7-micron, 79mm pieces offered by Elders Sydney. This lot had 2.9 per cent vegetable matter, was branded DF/CROYE and sold for 1110c/kg (greasy) or 1726c/kg (clean).

Looking forward, there is approximately 40,000 bales available across all selling centres.

This week is a designated superfine week at Sydney.

Reports indicate some very well presented clips, although many are showing more dust than they normally would carry.

High yielding types are expected to draw keen buyer support.

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