Despite an offering of many lower yielding, lesser styles wools, Australia’s wool market continued its rush towards $20/kg as the EMI increased by another 40 cents this week to finish at an all time high of 1983c/kg.
From 17 micron through to 22, the rise continued, but most of the action was in the finer 17 micron region, finishing on 2834c/kg in the Sydney sales and 2888c/kg in Melbourne. This was a rise of 48c and 88c respectively.
The biggest increase in the Fremantle sales was 21 micron which rose by 54c to finish on 2175/kg, but their best performing micron was 17.5 which settled on 2600c/kg for the week.
Across the three states all microns were up except the broader 28, 30 and 32.
Interestingly though, due to the coarser microns posting the largest increase over the previous three sales, the average price difference between a 19.5 micron and 22 micron is now only 50c.
The southern indicator is yet to reach the 2000c/kg milestone settling at 1952c/kg while north and west enjoyed highs of 2033c/kg and 2119c/kg respectively.
The continuing aggressive approach from buyers is perhaps due to concern over upcoming supply levels.
Just over 30,000 bales were offered with just 2.2 per cent passed in.
The EMI has now added an impressive 488c over the past 12 months, an increase of over 32pc.