Australian wool auctions produced a general 1% increase in values this week, with the super fine Merino types 18.5 micron and finer the largest contributor. It was mainly a traders market on all the Merino sectors as that industry segment dominated buyers lists. Conversely, the crossbred wools were the  purchasing domain of top makers and indenters forcing handy gains across the entire broader wool categories.

The Eastern Market Indicator (EMI) closed the week at 1300ac clean/kg which represented a 15ac gain. With the major trading currency pair of the AUD/USD remaining extremely flat on a week to week comparison, the gains in the USD EMI were the same at around 1.2% or 11usc to conclude the selling week at 988usc clean/kg. 

Logistics issues continue to be the wild card currently impacting the trade of wool (and other export goods). This week though, the major exporters appeared to brush away the concerns of these potential blockage points in delivery and attacked the auctions with gusto. Other barriers to smooth trade at present include other “abnormal“ influences such as consumer access to physical product  due the pandemic and skyrocketing transport charges across the globe forcing retail prices upward. 

The break in sales next week certainly aided the stiffer competition this week,  but a renewed interest half way through the sales had confidence restored somewhat after a two week slide. Chinese and Indian orders were available - at a price - and the odd smattering of European activity was in evidence at the better end of the market. Significantly some specialized accredited clips  offered were the recipients of prices up to 12% above the price of similar, but non accredited wools.

Superfine (less than 18.5mic) Merino fleece and skirtings gained 20 to 60ac with the best gains at the finest end. All other Merino combing descriptions traded around established levels. Cardings had a mundane week, but were selling to the buyers favour mostly, whilst crossbred wools were all 10 to 20ac higher by the close of selling.

There are no sales scheduled for next week due to the Easter recess in sales. The following week currently has over 50,000 bales scheduled.