A new wool selling season was marked with a new sense of optimism at the Western Wool Centre (WWC) last week.
With only two positive trading weeks over the past two months of the previous season, price rises across all micron segments of the Merino fleece market and for Merino cardings as well, were welcomed last week by wool brokers.
As Australian Wool Exchange (AWEX) technical controller Andrew Rickwood pointed out, trading at the WWC led the way up on the first day of the new selling season "with solid rises across all Merino types and descriptions".
Indicative fleece price rises of between 49 cents per kilogram clean for 21 micron and a minimum rise of 21c/kg for 18.5 micron pushed nearly all WWC prices well past equivalent Melbourne and Sydney prices on the day.
There was one carryover from last season however, with 35 per cent of the listed fleece offering - 1246 bales - withdrawn before the start of the first auction of the new season, Mr Rickwood pointed out.
On the second day the WWC fleece market continued to strengthen but with lesser rises - ranging from 21c (to 1481c/kg for 19 micron) to just 1c (to 1600c/kg for 18 micron), while Merino cardings lost 8c of the previous day's 23c gain to finish at 701c/kg.
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Most sellers were keen to accept the better prices on offer and the passed-in rate dropped from 8.1pc on the first day to 2.9pc on the second.
The Western Market Indicator, which had hit a two-year low of 1270c/kg during the last trading week of the previous season, bounced back to finish the first week of the new selling season up 49c to 1320c/kg.
This compared to a 34c rise to 1162c/kg for the benchmark Eastern Market Indicator.
A new selling season and for buyers and exporters operating extensively on credit, a new financial year and new annual budget, saw a return to relative normal on the WWC buyers' list.
Local trader PJ Morris Wools topped the list ahead of Techwool Trading, Tianyu Wool, Endeavour Wool Exports, Westcoast Wool and Livestock and with Meliwa rounding out the top six.
The voices of some of the regular top buyers had not been heard very much at all during the past months of last season.
This week the WWC will offer slightly less wool at 6896 bales, but the national offering is set to jump 8293 bales to 44,452 before all three AWEX live auction selling centres close for their three-week annual recess.
