The AWEX EMI rose 58c at auction sales in Australia this week. The EMI pushed into new price record territory, closing the week on 1681c in what can only be described as a frantic grab for wool of any type. All merino types were on the menu for exporters, with an insatiable appetite for the Week 19 offering of 43,432 bales. Prices across the merino MPG’s generally increased between 40-60c, whilst some specialty types posted rises in excess of 100c.
Despite buyers preference for best measured and style wools in the past few months, this week saw their appetite extend for lots with less flattering specifications and style which resulted in 98.7 per cent of the offering being cleared to the trade - the lowest pass in rate for 27 months.
Skirtings posted 40-60c increases for the week with the lots with VM under 2 per cent the key focus of the bidders. Merino Cardings continued to post unbelievable increases, possibly due to the limited offering in this sector pushing the average for the three MC indicators to 62c (4.5 per cent) for the week. Finally, the crossbred sector emerged from an extended price slump adding 80-90c to last week’s 20c rise. The star performers 30-32µ MPG’s posted 13 and 17 per cent weekly increases respectively.