Wooltrade market operations officer Tom Rookyard said buyer confidence snuck back into the wool market last week.
About 98 percent of wool sold online at Wooltrade.com.au was traded late in the week, including Friday after the physical auction closed, he said.
The 18 micron fleece wool prices on Wooltrade last week dropped back 5-10c/kg from the previous week, making up to 1383c/kg clean and 19 micron lines sold from 1325-1347c/kg. But it was the medium wool Merino wool that made the biggest gains of 50 cents last week, with 20 micron lines selling to 1338c/kg and 21 micron wool making 1321c/kg.
“Short carding and combing wool was well supported, with fine short lambs fleece and pieces drawing keen buyer attention.
“Wooltrade combing and skirtings continued their strong run, with Merino weaner pieces making up to 1341c/kg clean,” Mr Rookyard said.
“There has been strong buyer enquiry following the close at auction for wool to fill current orders, and additionally to meet fresh enquiry for prompt shipment.”
By Wednesday last week the AWEX Eastern Market Indicator had lost 11 cents, but on Thursday this trend reversed and the EMI gained one cent to level out and close at 1221c/kg, in the final week before the start of the winter wool recess.
“This is the smallest reduction for the market since the fall began from the spike five weeks ago,” Mr Rookyard said.
“Despite the influences from the Chinese share market and the Greek debt, this slight retraction can be seen as a positive signal for the wool market as it begins to level and find a base.
“Another factor which may have impacted on the reducing of the market slid, could be attributed to the Australia-US dollar exchange rate,” he said.
“Looking forward, auction wool now has its three-week break with the winter recess beginning this week.”
Click here for last week’s Wooltrade top prices.