September 9th 2021
The Australian wool market has bounced back from last week’s losses, with the AWEX Eastern Market Indicator gaining 29 cents during Week 10 to close at 1,361c/kg.
Reports of many overseas orders being booked early in the week because of a potentially dearer market turned to fact as the market climbed higher from the outset.
All Merino fleece types and descriptions enjoyed the rises as buyers scrambled to get meaningful quantity in the smaller than normal offering, as individual Micron Price Guides (MPGs) climbed 14 ‑ 60 cents on day one and the EMI added 29 cents for the day ‑ the largest daily rise in the EMI for the 2021/22 season so far.
The second day of selling saw the market settle, with prices generally within 15 cents of the previous day.
The Merino skirtings followed a very similar path to the fleece for this series, solid prices increases in line with the fleece were recorded on the first day of selling, followed by a generally unchanged market on the second.
The higher prices achieved this week have encouraged more sellers to the market, pushing the national offering up for next week.
38,630 bales are currently expected to be offered in Sydney, Melbourne and Fremantle.