WESTERN Australia's wool market led a national halt last week to the dramatic prices slide of the previous week, as sellers reacted by withdrawing wool from auction.
While the benchmark Eastern Market Indicator (EMI) continued to slide on the first trading day last week - albeit by only six cents, not the 155 cents per kilogram clean of the previous week - the Western Indicator (WI) stopped the rot.
It put on 11c to finish the day at 1364c/kg, with the Western Wool Centre (WWC) micron price guides all moving in a positive direction for gains of between 12c and 30c and mid microns most in demand.
Woolgrowers with wool scheduled for auction on the day had reacted to the previous week's lack of demand by pulling 27 per cent of the fleece wool out of what was already a small offering, before the sale.
Australian Wool Exchange (AWEX) technical controller at the WWC, Andrew Rickwood, noted "strong spirited bidding, which has resulted in price increases across the board" in his market report on the trading.
He also noted the "limited selection" that was offered up after wool was withdrawn.
The significantly reduced offering of just 2630 bales across fleece, oddments, skirtings and crossbred wools saw 2323 sold for a passed-in rate back from 48.4 per cent the previous week to 11.7pc.
Mr Rickwood's report was in contrast to more subdued reports by counterparts at Melbourne and Sydney auction centres who noted tentative starts and soft demand, with some positive signs towards the end of trade in Sydney, but Melbourne closed "generally unchanged".
The Eastern States' centres had put up larger offerings and recorded passed-in rates of 19.7pc in Sydney and 15.9pc in Melbourne as a consequence.
On the second trading day last week AWEX opened the Sydney market with its first online live wool auction - following on from a successful trial at the WWC the previous week - before resuming a traditional open-cry format for the rest of the sale.
Australian Wool Network and Moses and Son sold a total of 61 lots online - other brokers are expected to join them putting lots up for the first AuctionsPlus online live auction scheduled for today (Thursday) and WoolQ's first online live auction scheduled within the next fortnight.
The positive tone from that successful online start carried into Sydney's later trading, according to AWEX, was then picked up by Melbourne and by the time the WWC opened two hours later the market was humming with anticipation.
Despite the price slide halt and small turnaround the previous day, WWC sellers had continued to pull their wool out, with 854 bales, or just over one third of the listed fleece offering, withdrawn before the sale.
That left only 1673 fleece bales offered by two of the three biggest wool brokers operating at the WWC, Nutrien Wool and Primaries of WA - also owned by Nutrien.
Mr Rickwood noted in his report, "The Fremantle fleece market has performed strongly today, adding further increases to those achieved at yesterday's sale".
The WI put on a further 20c to finish the week up 31c at 1384c/kg, while the 18.5-21 micron guides added another 49c to 11c - but with the finer end rather than mid-micron wools most in demand - for increases of between 70c and 23c for the week.
Of the total of 2633 bales of all wools put up, 2475 sold for a passed-in rate back to 6pc in week 41 of the season, the lowest it has been since September 19 in week 12.
The notable significant difference between the WWC auctions last week and previous weeks was that woolgrowers and brokers successfully anticipated reduced buyer demand with much smaller offerings.
National trader Techwool Trading, with Russell Fraser buying, topped the WWC buyers list both days last week, with second place going to Chinese indent buyer Tianyu Wool on the first day and Lempriere - now owned by China's biggest textiles manufacturer Ruyi Group - on the second day.
Local trader PJ Morris was third placed buyer both days.
This week's extra sale added to the selling calendar at the request of the National Auction Selling Committee (NASC) on behalf of buyers, will be a one-day sale at the WWC and Sydney and Melbourne centres because of a small 21,523-bale national offering.
At this stage, the WWC is scheduled to auction a total of 4871 bales this week, with Nutrien Wool listed to put up three times the amount of fleece wool - at 1518 bales - than other brokers.
Seven brokers, the same as last week, have listed wool for this week's sale.
