The Australian Wool Exchange eastern market indicator has broken new territory to close on 2027c/kg for the week.

Moses and Son principal, Marty Moses said this was a weekly increase of 44c in AUD and 32c in USD terms (now on 1533c).

He said a combination of the underlying forecast of low production, matched with the seasonal low point for available offerings and high demand, had buyers once again scrambling to achieve their purchasing schedules for the week.

From the 30,439 bales offered at auction this week, 97.7 per cent cleared to the trade with record prices.

“Merino fleece attracted incredible buyer support adding 40c to 80c across the range,” he said.