AU Wool Prices Rebound from Recent Lows
April 18, 2014

The strong wool market during previous sales appeared to trigger further support this week, sending the Australian Wool Exchange-Eastern Market Index (EMI) to a 29 cent gain. That gain came on top of a 26-cent gain last week making it the largest weekly rise in seven months.

The sale opened with sharp rises across the whole Merino fleece sector. 19-microns came under special attention and jumped 40-50 cents clean while all other microns generally improved by an equally impressive 30 cents and pushed the EMI to a daily gain of 24 cents. Thursday saw another lift in the EMI but this time it was more moderate, firming by 5 cents.

As with recent weeks, the Merino skirting sector followed its fleece counterparts higher but the increases were generally not as large. Best length (80mm), low vegetable matter (
Crossbreds made healthy gains in the finer 25/26-micron range on the back of fairly limited numbers. Well-bred and correctly prepared lots in this range were keenly sought after and sold to solid premiums over the lower styles. Merino carding types continue to consolidate at current levels, closing largely unchanged for the second consecutive week.

Sales resume in two weeks, returning after the annual one-week Easter recess.