With only 36,398 bales offered this week, the wool market continued its rapid climb. A large percentage of the offering was again made up of lesser style, lower yielding wools, however despite the overall quality buyer demand continued to be intense, pushing prices steeply upward for the second consecutive week.
The market was generally 50-90 cents dearer for merino fleece, with 20 micron and broader enjoying the largest gains. The NRI closed 55 cents dearer at 1995, setting a new record, and was not heavily influenced by currency fluctuations.
The skirting market tracked a similar path to the fleece, with prices generally 40-80 cents dearer. The finer crossbreds also recorded gains, pushing the 26-28 MPG to new highs, although the broader lots >30 microns were irregular.
The limited supply of oddments has again come under intense buyer scrutiny, resulting in prices generally rising by 20-40cents. As brokers receivals start to decline, so too does the national quantity. Currently, there is 31,996 bales rostered for Week 47.