AUCTIONSPLUS online wool sales increased after the announcement of a United State-China trade deal last Friday.
AuctionsPlus operations manager Tom Rookyard said in the week prior to the announcement, 256 bales were sold online.
“However, since the announcement of the deal on Friday AuctionsPlus has seen a further 508 bales sold online as buyers and exporters report positivity from overseas mills.”
A reduction on tariffs into the US highlighted the deal which is set to be signed in the first week of January 2020, to take affect 30 days later.
Mr Rookyard said cautious positivity is the sentiment surrounding the wool market for the final week of trading of 2019.
Last week, the Australian wool market ended on a positive note, with the AWEX Eastern Market Indicator rising by 11 cents to close off at 1503c/kg clean, or in US dollar terms, US1035c/kg.
The top-priced lot online last week was a four-bale line of 14.5 micron AAAASUP superfine fleece wool from a flock that had ceased mulesing. It was branded ‘Nukering’ that sold for 1580c/kg greasy, or 2337c/kg clean. The line had a yield of 67.6 percent, and average staple length of 69mm, a tensile strength of 39 Newtons/kilotex and 1.5pc vegetable matter content. It was offered by Elders Fremantle.
A three-bale line of 15.6 micron EXSUPAAAM with a yield of 71pc, staple length of 85mm, tensile strength of 31N/kt and 0.4pc vm sold for 1480c/kg greasy, or 2085c/kg clean.
A nine-bale line of 16.1 micron AAAM declared as non-mulesed sold for 1430c/kg greasy, or 2037c/kg clean. It yielded 70.2pc, with a staple length of 96mm, a tensile strength 9of 27N/kt and 0.8pc vm.
A 17-bale line of undeclared 17.6 micron AAAM sold for 1216c/kg greasy, or 1840c/kg clean. The line had a yield of 66.1pc, an average staple length of 86mm, tensile strength of 39N/kt and 1.9pc vm.
A two-bale line of 18.2 micron AAAM with a yield of 72.5pc, staple length of 101mm, tensile strength of 24N/kt and 0.2pc vm sold for 1250c/kg greasy, or 1724c/kg clean.
A nine-bale line of 19.7 micron AAAM sold for 1210c/kg greasy, or 1681c/kg clean. The line yielded 72pc, was 102mm long, with a tensile strength of 32N/kt and 0.7pc vm.
A 10-bale line of 20.9 micron AAAM with a yield of 73.4pc, a staple length of 108mm, tensile strength of 35N/kt and 0.5pc vm made 1249c/kg greasy, or 1702c/kg clean.
Mr Rookyard said an estimated 43,000 bales are to be offered in this final week of physical auctions for 2019.
“Any continuing stabilization of two of the world’s powerhouse economies is a positive signal for the Australian wool market, who is so heavily reliant on China.
“‘Phase-Two’ of the deal is set to start immediately, and it is worth noting that there are several issues unresolved and further to this the unpredictability of Donald Trump underlies much of people’s caution.”