The wool market in Australia continued with its auction this week and received excellent results. Amongst increasingly negative sentiment flowing from several Chinese suppliers, the market showed great resilience, albeit under a very small volume flowing through the system. As the sale progressed, all type and micron categories showed a confident resurgence and by the close of selling had added a few cents to their previous quotes. The skirting and carding markets continued to be at very attractive levels, with only the merino fleece sector looking for a spike upwards.
The small offering of spinners and best top makers at the Superfine (finer than 18.5micron) end of the selection continue to extract reasonable premiums out of the market, with some Italian, Indian and Chinese competition forcing a 50 to 60 cent price advantage over the micron indicator levels.
Crossbred and comeback types from 25 to 32 micron met with good demand and prices gained approximately 1 per cent for the series. After initial signs of a weakening in appetite for this sector, buyers rallied late in the week, with some new sales for prompt shipment keeping the interest and levels alive.