In another good week, the Australian Wool market finished 1.6 percent higher, on average, at sales in Sydney, Melbourne and Fremantle.
The AWEX EMI increased by 14¢ (+1.7 percent), ending the week at 839¢/kg clean. This reflected increases of 11¢ (+1.3 percent) in the North and 16¢ (+2.0 percent) in the South, with their corresponding Regional Indicators finishing the week at 858¢ and 823¢ clean respectively.
The Western Indicator increased by 12¢ (+1.4 percent), finishing the week at 841¢/kg clean.
The Market Indicators remain well above their levels of nine weeks ago, with the EMI and the Northern, Southern and Western Indicators being up by 98¢, 92¢, 103 and 124¢, respectively.
21 to 23 average AWEX Micron Price Guides are now up by 145 to 160¢ over the period and by 105¢ for 24 micron wools. At the fine end, the changes are 19¢ for 17 micron wool, 45 to 65¢ for 18 micron wool and around 110 to 125¢ for 19 to 20 micron wool.
Looking at the period from twelve months ago when prices were at an unsustainably low level, the EMI is up by 189¢, with Superfine, fine and medium micron Merino AWEX Price Guides up by 200 to 230¢.
Most of the gains at the fine end were made earlier in the calendar year, while those among the medium wools were made over the last two months. Buyers for China continue to dominate the market, but improved demand from other countries has been a major factor in lifting the market.
62,948 bales were on offer (compared with 6,410 last week), of which 11.8 percent were passed in, comprised of 10.2 percent in Sydney, 9.1 percent in Melbourne and 19.2 percent in Fremantle.
marketing@alchempro.com
