ONLINE wool buying eased last week as prices eased on the physical auction market.
The AuctionsPlus online offer board sold 151 bales last week, with most sales transacting for 16 and 22 micron lines.
Buyers bought 25 bales of 16 micron wool, including the top-priced line, including a 16.6 micron Merino fleece AAAM lot that made 1755c/kg greasy or 2273c/kg clean. The line from Tymona Park had an average staple length of 75mm and 0.2 percent vegetable matter. It was offered by Nutrien Ag Solutions – Victoria. AuctionsPlus sold 44 bales of 22 micron wool.
On the physical auction market, the national wool offering was boosted marginally by 600 bales, to 50,603 bales.
The AWEX Eastern Market Indicator dropped this week by 22c on Tuesday, 9c on Wednesday and a further 1c on Thursday to close out the selling week at 1,277c/kg greasy, or 1,000c in US dollar terms.
The increased offering resulted in an increased pass in rate of 17pc. AuctionsPlus said currently cash flow is being impacted by the congestion of international freight, which is steadying global shipments however it is not likely to persist for too long.
AuctionsPlus said there was a general price decrease at auctions, which is linked to the larger volumes and inferior lots supplied; however, it is an overall a positive result and the EMI remains on its steady upward trajectory.