Currency movement, a reduced offering and supply concerns, all contributed to a remarkable week, with intense competition from the opening lot. On day one, prices increased by an average of 110-160 cents. The rises in merino fleece were realised across all microns & types, with some small faults being increasingly overlooked, as buyers attempted to secure quantity, in the rapidly rising market. Day two of selling was more subdued, although the market continued to track upward, with all types and descriptions generally rising by 20-50 cents, pushing the NRI to a new record of 2163 (a weekly gain of 136 cents).
Notably, the 18 to 21 micron MPG’s, rose to unprecedented levels in all three selling centres. Merino skirtings followed a similar path with, prices generally 50-100 cents dearer for the week. The crossbred sector rose 60-90 cents, while the limited offering of oddments were generally 40-80 cents dearer.
Fremantle will sit out next week, leaving 29,813 bales to be offered Nationally.