Volume test passed
The wool trade was tested with a big offering of 58,893 bales last week and as most hoped, the market went into the mid-year break on a positive note.
It was the biggest catalogue in six months, which saw 18 microns ease in Sydney and Melbourne on Tuesday followed by gains in the 19 to 23 micron range on Wednesday.
Australian Wool Industries Secretariat’s Peter Morgan said there was no other particular pattern to the price movements.
“The Eastern Market Index rose 11c/kg on Wednesday to put the week-on-week change into positive territory, ” Dr Morgan said.
Although Fremantle was sharply lower across the board, the Western Indicator closed –2.6 per cent, which was similar to a fortnight earlier and was catching up to the falls made in the eastern market the week before, according the AWEX.
Tambellup wool grower Rod King sold 80 bales from his annual Glen Willen clip at Bibra Lake through Landmark.
Mr King’s 12-bale line of 17.5 micron wool sold to a high of 1331c.
“Prices are near the highest I have ever received, ” he said.
Mr King said he could remember getting 1800c in 1988 when WA had a few very dry years.
Sales will be in recess until the week beginning August 8.
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