Physical wool auctions continued across Australia last week, with some strong trends emerging for the second trading week of 2021.
The Australian Wool Exchange Eastern Market Indicator (EMI) was up 18 cents a kilogram on the first selling day on Wednesday, and increased another 12c/kg on Thursday.
The EMI finished the week at 1202c/kg - or 934c/kg in US Dollar terms.
The renewed confidence seen in the market, which was evident prior to the Christmas and festive season auction break, was sustained as increased trade demand and buyer competition strengthened prices.
The solid buyer demand trended across all auction selling centres, with northern and southern auction prices closing the week up.
Melbourne auctions experienced the biggest increase, with values up 33c/kg to 1167c/kg for the week.
The AuctionsPlus online offer board strengthened during the week, with 1977 bales of wool sold for the period.
This included 364 bales of 17-micron wool that sold at values of up to 1620c/kg (greasy), or 2025c/kg (clean).
Online offerings of 15-micron wool sold to a top of 1965c/kg (greasy), or 2703c/kg (clean).
The top price online was a lot offered by Beecher Wool Services that was branded SG & AEB and measured 15-micron in fibre diameter.
This Merino Fleece AAAMWNS line sold for 1965c/kg (greasy), or 2703c/kg (clean), had a vegetable matter of 0.3 per cent and a staple length of 104 millimetres.
Looking ahead, there are 42,594 bales estimated to be offered at national physical auctions this week.
Strong buyer competition is expected to remain the feature of the smaller offering.
Continuing the theme seen across January, demand will remain the predominant feature of the market - with the strengthening Australian dollar maintaining a level of buyer skepticism.