A total of 29,807 bales went to auction in Sydney and Melbourne with an 89.1 per cent clearance.

After last week's 29c rise in the EMI, the week opened with a 7c increases early in the week followed by Wednesday's price consolidation. The AUD fell per cent to the market close below 69.50 before falling to 69.01 by Friday. Subsequently the EMI expressed in USD fell 6c to close on 1021c.

Merino fleece was dominated by the Australian based and Chinese traders and also Chinese indent operators with continuing strong bullish demand for 19 to 22. This sector dominated the price gains for the week, whilst the fleece offering finer than 18.5 gave back up to 35c for the week. Well specified lots that were Certified Non Mulesed continued to attract (at times) extreme premiums over market average.

Merino skirtings with good specifications and low VM were in line with their fleece counterparts, whilst the lots with VM 5% measured small losses for the week.

Crossbred fleece types that were well classed and possessed best processing specifications, were at times 20-30c dearer whilst the remaining lots were irregular but generally showed little price change for the week. Once again this sector dominated the pass in rates with Sydney passing in 24% and Melbourne passing in 18%.

Merino cardings were fully firm across both centres with an average rise of 2c measured. Some interest from Indian sectors saw the well specified & prepared comeback combing lambs continue to increase in price whilst the remaining crossbred oddments remained irregular from a very low base.

Next week's sale will be the last for the 2021-22 financial year offering 45,003 bales in all Australian sale centres. The early market intelligence is a continuation of the current price levels as it is expected the Chinese Indents will be looking to elevate their purchasing before the 3 week recess commences in mid July. With the last sale week emerging the year is producing some interesting interim comparison's to the same time last year.