Despite a rising exchange rate, a smaller national offering had the Eastern Market indicator (EMI) rise by 28 cents, pushing the major Indicator over the 1,500 cents mark to finish at 1,506c/kg.
Increased buyer activity resulted in a drop in the overall pass in rate by 3 percent to 6 percent nationally.
At the end of the week all micron categories remained firm to strong, with some highlights from Sydney’s sale being the 20 micron range, gaining 64 cents to finish at 1,638 c/kg.
The finer end of market strengthened by 20 to 50 cents, with the 18 micron indicator closing at 2,123 c/kg.
Crossbred wool was received with good support, rising by 5 to 10 cents, although 28 micron continues to amble along near its 70th percentile since 2012.
With a strengthening market, forward price offerings followed suit with increased activity for a spring delivery of 21 and 19 micron categories.
This is with little surprise while ever 21 micron wool is able to be secured for an August delivery for prices above its 95th percentile for the past 5 years.
Elders Wool’s Minimum Price Guarantee premiums for an August delivered clip, currently sit at the 30 c/kg mark.
This means your wool could participate in any upside in the market for the fixed price of roughly $30 per bale, while guaranteed it will not drop below the strike price.
This week will see less than 24,000 bales offered, with 10,000 to be offered in the North and 14,000 to be offered in the South, while the West will not host an offering this week.