Western wool market makes some big gains

The Western Wool Centre saw the first day register a massive 26c/kg lift on the first day of sales with the second adding the final 4c/kg for the week.

This lift came after Fremantle had a sale recess the week prior however, the Eastern Market Indicator also experienced handy price gains.

Australian Wool Innovation said the change in atmosphere and sentiment that has emerged over the past few sales continued.

"Steady and consistent rises across most wool types and descriptions were registered," AWI said.

"Widespread competition greeted sale room operators from the outset, with strong buying intent being shown from many participants from the opening lot.

"Australia' largest export trader dominated throughout."

The EMI finished the week 18c/kg higher overall to realise 1170c/kg, with day one seeing a 12c/kg rise and day two providing a further 6c/kg to the total.

The Western Wool Centre has a 98 per cent Merino type base and this contributed to its achievement of gaining the biggest increase in values across the Merino Price Guides.

While the recess also contributed to the demand, Fremantle also registered higher prices than the eastern centres the week prior to the recess and this was by an average of 15c/kg.

A total of 31,984 bales were offered nationally, with 30,875 sold, WA contributed 7059 bales to the total offering and of this 6839 sold.

Supply concerns continue and due to another sale recess in WA, with only Melbourne and Sydney selling.

There will be a total of 28,000 bales on offer.

WA will return to selling in the final week of the sales roster for the 2023/24 season.