The Australian wool market has recorded another overall increase this series, posting a positive result for the second week in a row. As the market is about to head into the mid year recess this was the final chance to sell wool until Week 7.
There were 43,697 bales on offer nationally. This was 7,538 bales more than the previous week.
The total amount offered over the first two weeks of this season is now well below the same time last year. There have been 79,856 bales offered, 24,414 less than the previous season, a reduction of 23.3%.
As this is also the last opportunity to buy through auction until August, buyer sentiment was high, which in turn translated to spirited bidding across all sectors of the market. This resulted in price increases across most sectors, but particularly in merino fleece types.
Most of the market gains were felt on the first day.
The individual Micron Price Guides (MPGs) across the country for 17.5 micron and coarser fleece added between 3 and 54 cents for the day, 20.0 micron and coarser enjoying the largest gains.
The crossbred sector also had solid rises, particularly 26.0 and 28.0 micron in the South, which added 28 and 21 cents respectively.
The AWEX Eastern Market Indicator (EMI) rose by 17 cents for the day. The second day was varied across regions, microns and types.
The movements in the merino fleece MPGs ranged between minus 24 and plus 18 cents, the EMI remained unchanged.
This is the best start to a new season since 2020 when the EMI rose by 24 cents over the opening two sales, and a marked improvement on the previous year, when the EMI dropped 42 cents over the opening two weeks.
The market now heads into the annual three week mid year recess. Sales will resume in the week beginning Monday the 7th of August.
For a full details of auction sales, download the regional reports here.