Wool back above 1600c/kg last week

It had last topped 1600c/kg clean on September 7, on its way down after breaking through the landmark barrier for the first time earlier this year and setting an all-time record of 1680c/kg on August 17.

After a month of bobbing between 1559 and 1574c/kg, on Thursday last week it broke back through the barrier and finished up 38c for the week at 1608c/kg.

By comparison, the North Indicator (Sydney) finished 30c higher at 1629c/kg, the South Indicator (Melbourne) finished 26c higher at 1499c/kg and the Eastern Market Indicator was up 28c to 1550, according to Australian Wool Exchange (AWEX) data.

At the Western Wool Centre (WWC) the scene was set during Wednesday’s trading when strong demand across the board, but particularly for the finer 18.5-19.5 micron fleece wools, pushed prices 23-36c higher.

“All types and descriptions across the entire Merino spectrum have enjoyed rises,” AWEX technical officer Andrew Rickwood said in his trading report.

“The increase in price was reflected in the clearance rate, only 0.3 per cent of the fleece was passed in,” Mr Rickwood noted.

Trading was more subdued on a bigger 3495-bale offering on Thursday with single-figure rises for the 18.5-19.5 micron range, but 20 micron fleece was in demand with a rise of 24c to a top of 1660c/kg.

Lambs’ wool and special lines of fine and superfine wools also brought remarkable prices both days with a top sale price of 1720c/kg greasy, equivalent to 2321c/kg clean, recorded for 15.5 micron superfine wool on Wednesday.