CROSSBRED wool sold well on AuctionsPlus last week as physical auctions resumed after the Easter recess.

In a relatively quiet week for online sales, AuctionsPlus market operations officer Ed Murphy said just 81 bales sold, while the auction market defied all logic and market pundits.

“Initially, the auctions opened in Melbourne on Tuesday and softened on all Merino combing types.

“However, when Sydney and Fremantle joined the fray, sentiment and prices strengthened throughout the week,” Mr Murphy said.

“The Aussie dollar strengthened, the prices on lower spec droughty and prematurely shorn wools met with overseas price ideas, and the market took off.

“This was in despite of the largest offering this season comprising some 54,000 bales available nationally.”

The AWEX Eastern Market Indicator initially slipped by 9 cents then consolidated on Wednesday, gaining 1 cent. On Thursday the market gained a further 12 cents to close at 1776c/kg clean.

The top price paid online was 1340c/kg greasy or 2062c/kg clean for a 14-bale line of 18.6 micron fleece wool that yielded 65 percent with an average staple length of 70mm, a tensile strength of 38 Newtons/kilotex and 2.3pc vegetable matter content. This lot was offered by Primaries of WA and branded SGCO/Windermere.

Mr Murphy said crossbred wool had a reasonably good week at AuctionsPlus, with 27-30 micron fleece selling to a top price of 724c/kg greasy, or 959c/kg clean for a three-bale line of 27.6 micron fleece with a yield of 75.5pc and 0.5pc vm.

An 11-bale line of 29.8 micron fleece that yielded 74.6pc with 1pc vm sold for 550c/kg greasy, or 737c/kg clean.

“Looking ahead, it appears overseas mills have found a level which is attractive for them to operate at,” Mr Murphy said.

“Optimism is the call with an estimated 40,000 bales on offer this week across all three selling centres.”

Source: AuctionsPlus.