THE encouraging trend continued for the wool market this week as the EMI rose 27c to sit on 1216c after the scheduled three-week Christmas recess.
In US currency terms the EMI rose a whopping 76c as the Australian dollar cracked the 103c barrier.
As with most sales after a recess, quantities have increased to about 105,000 over the first two weeks as experienced in the last few seasons.
The market opened strongly on Tuesday in Melbourne.
Prices for Merino fleece types were around 30c clean higher despite a rise in the currency, which had firmed 4 USc since the previous sale held prior to Christmas.
The gains were followed up on Wednesday with further increases of 10 to 20c clean as Sydney and Fremantle came on-line.
Thursday’s market began to plateau midway through the sale with some categories easing slightly.
All in all, a pleasing week with some consolidation expected early next week with a large offering.
See mosesandson.com.au.
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