With a falling AUD, this week’s reasonably large offering had little effect on the market, with the NRI closing 28 cents dearer at 1359c/kg. Commencing the week in isolation on Tuesday, Melbourne posted a modest 4 cent to set the tone for the week ahead. Sydney and Fremantle joined Melbourne on Wednesday and all three centres opened strongly and continued to strengthen as the sale
progressed. Thursday continued the same trend (although Melbourne softened slightly towards its close). During the series most of the merino micron range enjoyed rises of between 20 and 50 cents, with the most pressure on selected pockets in the finer microns. In stark contrast to recent sales it was the lesser types which experienced the greatest gains as buyers attempted to find cheaper alternatives in a rapidly rising market.
The skirting market enjoyed gains of 30-50 cents, while crossbreds had mixed results, losing further ground in the 25/26 range whilst recovering in the broader microns. The oddment market didn’t get left behind finishing the week 20 cents dearer.