BROADER Merino wool was in demand in a reduced trading week on AuctionsPlus’ offer board last week.

The online offer board sold 328 bales, with  broader wool ranging from 20-21 micron in the highest demand. Buyers bought with 159 20 micron bales for up to 985c/kg greasy, or 1288c/kg clean, and paid up 944c/kg greasy, or 1290c/kg clean, for 86 bales of 21 micron wool.

The top-priced lot online was 1470c/kg greasy, or 1971c/kg clean, for four bales of 17.3 micron AAAM wool with an average staple length of 71mm and 0.1pc vegetable matter. It was offered by Nutrien Ag Solutions in Victoria under the brand Vasey Farms/G.

AuctionsPlus said after last week’s physical auction sales, the AWEX Eastern Market Indicator closed down 13 cents to finish at A1306c/kg clean, or US1008c/kg for an offering of 54,899 bales, up from 48,760 bales the previous week. Despite an increased offering this week, the passed-in rate lowered to 12pc, possibly due to an increased demand.

AuctionsPlus said demand in Australian wool markets from Chinese interests could have counteracted the increased supply and stopped the market from falling further, with many Chinese buyers active this week as well as several European and Indian buyers, keeping the market bouyant.

Source: AuctionsPlus.