Western Australian woolgrowers are hoping the 2023 wool market's strong finish continues into the new year.
The Western Market Indicator (WMI) lifted 16c per kilogram and 32c/kg in the final two sales combined to finish at 1342c/kg.
This was the highest the WMI has been in the past six months and now the season to date, with the previous best being 1341c/kg in sale two on July 11.
Since the start of the season in July, the micron price guides (MPG) have also been either above or within eight cents of those achieved in sale two.
The 18, 18.5 and 21 MPGs all finished on the December 14 sale above the July levels, sitting at 1645c/kg, 1560c/kg and 1378c/kg clean to be up 24 cents, 19c and 16c respectively.
Reflecting on this year's wool market, Australian Wool Network wool and livestock State manager Greg Tilbrook said as a farming commodity wool - in the medium to broader microns - had tracked well.
Mr Tilbrook said that was mostly driven by demand out of China, and the fact there hadn't been big offerings.
This meant the market easily absorbed whatever was presented to it.
A Chinese railway uniform order, done outside of normal business, slightly lifted indicators and the number of bales offered in November.
Unfortunately, it was a different story for finer woolgrowers, who struggled due to a lack of demand out of Europe.
"The pipeline in Europe is full, in greasy through to garments, and with interest rates up consumer spending is back," Mr Tilbrook said.
"The market started to drop in February-March last year and has worsened over time.
"China is also a buyer of fine wool, but there hasn't been enough competition to really push that market."
Taking a look at prices, Mr Tilbrook said 21 micron wool was sitting at about the 93-94 decile, which was well above the long-term average.
"This means the market has only been above the current price 7pc of the time for the past 10 years," he said.
"Whereas 17 micron wool was back in the 60-70 decile, so the market has been above it for a lot of the time.
"We've been carrying a bit of wool, as wool brokers do.
"You talk to your clients and give them updates on the market - all of a sudden they see it sitting at $8-10/kg greasy and ask how quickly we can sell it."
With the new year looming, Mr Tilbrook hopes to see European buyers back and active in the market.
A Department of Primary Industries and Regional Development spokesperson said WA wool exports had totalled 49.3 million kilograms greasy so far in 2023 (January to September).
The spokesperson said this was down 5pc compared to the 52m/kg
exported at the same time the year before.
"Despite this though it is still the highest volume exported at this time of year since 2007 outside of 2022," they said.
"The value of WA wool exports totalled $494.8m in the first nine months of 2023, down 9pc on the $546.2m exported at the same time in 2022.
"Factors affecting the market included challenging economic conditions globally, high levels of inflation, relatively high volume of wool in the market putting downward pressure on prices and poor seasonal conditions and low prices may be causing producers to sell more wool."
