Southern Aurora Markets partner Mike Avery.

THE wool spot auction market opened again delivered a positive start to the week and, more importantly, the follow up on Wednesday was even better.

The AWEX Eastern Market Indicator put on 14 cents for the week.

All Merino qualities rose between 15 and 30 cents while Crossbreds rose 5 cents.

The forwards pre-empted the Tuesday rise and continued to be offered at small premiums to cash. The franking of rise Wednesday saw levels retained on the forwards out to June at cash across all microns.

Forwards traded only lightly with buyers looking to hedge with whatever was available and sellers remaining hesitant to commit after weeks of price erosion. The 18.5/19 micron and 21 micron contracts all traded across March to June.

Forwards closed the week well bid providing opportunities for growers at prices not seen for since January.

This week’s trades

March 18.5 micron                                         1475 cents                         5 tonnes

April 18.5 micron                                            1505 cents                         5 tonnes

April 21 micron                                                1335 cents                         5 tonnes

June 19 micron                                                1440 cents                        5 tonnes