Price gain for fine wools

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Bob GarnantCountryman
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The Australian wool market moved up again last week, despite the lingering and unfavourable global economic conditions.

Australian Wool Industries Secretariat representative Peter Morgan said the greatest gains occurred for fine wools.

"The fine wools are back to, or very close to, prices from the start of the season," Dr Morgan said.

The National Council of Wool Selling Brokers of Australia executive director Chris Wilcox said prices for fine and superfine wool (19.5 microns and finer) increased by 14 and 18 per cent, respectively, while medium Merino wool (20-24 microns) prices only increased by between 4 and 11 per cent.

"This is a reversal in trends seen in the previous months where finer wool prices were outperformed by medium Merino wool," Mr Wilcox said.

Last week's sale had the AWEX regional indicators finishing 4.1 per cent higher, with the Eastern Market Indicator closing at 1048c/kg clean, or up 34c/kg.

In Fremantle, prices lifted across the board over the two-day sale, according to Landmark.

"Gains of 15c to 35c/kg for the 18.5 to 20 micron wool categories were offered on Wednesday, with the 18 micron categories almost 50c higher," it stated. "Further gains on Thursday saw the 18 micron categories gain almost another 50c."

Dr Morgan said the recent price rises were attracting additional wool onto the market.

"This week's expected offering of 52,800 bales is the season's largest," he said.

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