WEEK 24 on the Australian wool selling program hosted the final sale of the calendar year.
It was also the final buying/selling opportunity before the market heads into a three-week recess.
As this was the last chance for sellers to offer their wool for the year, quantities understandably increased, and 46,003 bales were available to the trade last week, and in a welcomed result to these sellers, the market finished the year on a positive note.
With the recess looming, buyers were aware that this was their last major buying opportunity for the year.
This resulted in an aggressive buyer sentiment, as they fought hard to secure meaningful quantity.
The result was price increases across the entire Merino spectrum, with all types and descriptions enjoying gains.
The lift in prices pushed the AWEX Eastern market indicator (EMI) up by 13 cents for the series and resulted in the EMI closing at 1859c.
The EMI has risen by 102c over the 2018 calendar year, a rise of 5.8 per cent.
The skirtings did not record any significant movement for the series and prices fluctuated within 10-15c of the previous week’s levels.
Crossbred wool coarser than 28 micron recorded modest increases. The oddments finished the year with price reductions.
Prices for locks, stains and crutchings were generally reduced by 30-50c. This was reflected in the three carding indicators falling by an average of 44c.
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As mentioned earlier, the market now heads into the annual three-week Christmas recess.
Sales will resume in the week beginning Monday, January 7 (week 28) with selling in all three centres.
Worth noting, if quantities dictate that Melbourne requires a three-day sale, Fremantle will sell on Tuesday and Wednesday in week 28.
This change is to avoid Melbourne selling in isolation after an extended recess.