Online wool sales go from strength to strength

More than 2000 bales cleared online

Sheep
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AuctionsPlus reports solid demand for wool online in the past week.

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Online wool sales have been strong in the past week and reached a top of 1605c/kg (greasy) for a 15.4-micron line of superfine fleece offered by Jemalong Wool.

Online wool sales have been strong in the past week and reached a top of 1605c/kg (greasy) for a 15.4-micron line of superfine fleece offered by Jemalong Wool.

The wool market had another strong week, with prices on the rise and further gains experienced.

The continued market upswing was reflected by the Australian Wool Exchange Eastern Market Indicator (EMI) gaining 44 cents a kilogram last Tuesday, and a further 51c/kg on Wednesday - to close last week at 1117c/kg. This was 801c/kg in US Dollar terms.

Last week's national offering was 30,513 bales and demand was strong, with a 2.4 per cent pass in rate as buyers looked to cash-in on the rising market.

There has been some confidence restored in the wool market in recent weeks.

But with Europe and America currently undergoing a second wave of COVID-19 - with potential lockdown restrictions likely - only the one market is sustaining demand.

Online, the AuctionsPlus Offer Board saw plenty of buyer inquiry, with 2533 bales selling last week - an increase of 2027 bales from the previous week.

Lines of 14 and 15-micron fleece wool sold up to 1400c/kg and 1605c/kg (greasy), or 2055c/kg and 2202c/kg (clean).

In the 17 and 18-micron fleece categories, wool sold up to 1300c/kg and 1070c/kg (greasy), or 1769c/kg and 1566c/kg (clean).

The top priced lot online last week was a line of 15.4-micron Australian superfine fleece wool.

This had a vegetable matter of 0.3 per cent, staple length of 88 millimetres and was offered by Jemalong Wool. It was branded Bellevue/JFF/Eucumbene and sold for 1605c/kg (greasy), or 2193c/kg (clean).

Looking ahead, demand is set to remain strong - with plenty of inquiry already this week on the AuctionsPlus Offer Board.

This week saw an increased offering at national physical auction sales of about 34,000 bales at Sydney, Melbourne and Fremantle, and there is a predicted continued rise in weeks to come.

With one major market continuing to operate, demand should sustain this increased offering.

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