Despite a large offering of just over 50,000 bales, the market continued its positive run with further gains achieved earlier in the week before a downturn on the final day. On Wednesday, the NRI hit another record high however it eased back on Thursday to close 9 cents dearer at 1776. Support generally reflected the selection which lacked the more stylish types seen in previous sales.
Subsequently there were mixed results with prices tending to be driven by the quality in each micron category. The large volumes and strong prices pushed the turn over to more than 96 million dollars, the largest since 2002 (when there were 74,506 bales offered during that week).
After making a firm start Merino Skirtings then eased to finish slightly lower. Crossbreds continued to show volatility, falling sharply and closing as much as 50 cents lower, while merino cardings recorded further highs, although there was some slippage on the final day.
Another large offering is expected next week with almost 49,000 bales forecast.