As the market heads into its traditional quiet period wool receivals are slowing, this combined with the historically low amount of wool being held in brokers stores, has buyers concerned about securing quantity.
These concerns contributed to a high level of demand this week. From the opening hammer strong buyer sentiment was evident as buyers fought to secure their share of the smaller offering, pushing the market up across the entire merino spectrum.
By the close of trade prices had generally increased by 30-60 cents. Buyers are however finding it increasingly difficult to place the growing number of low yielding and out of specwools, and as a result the discount for these types is increasing.
The crossbred sector also experienced strong rises, 26 through to 32 sold at levels 40-60 cents above those achieved at the previous sale, whilst 25 microns were 60-130 cents dearer. The oddment market also rose for the fourth consecutive week.
43,648 bales are currently rostered for sale next week.