The wool market remained stable this week amid the current turmoil in global markets, reversing some of the falls of the past two weeks.
The AWEX Eastern Market Indicator (EMI) closed at 1421 cents per kilogram, clean, lifting just one cent albeit fluctuating prices throughout the week.
The EMI is now sitting well above what it was at the beginning of the pandemic.
The Western Market Indicator lifted by another 8c to finish the week at 1458c/kg, with all indicators lifting between 2 to 26c except for cardings which fell by 5c.
In Sydney and Melbourne, the finer types performed strongest with all indicators 18.5-micron and finer posting gains.
The standout in Melbourne was 17.5-micron lines, lifting 21c on the week prior, to 2457/kg.
Overall, the strongest buyer focal point was on good style, low (less than 1.0pc) vegetable matter wools, particularly those possessing favourable length and strength results.
General increases in these wools was a driving factor in the overall positive movement in the market.
With the generally good season, VM levels are rising and are expected to get progressively higher through till June, making lower VM lots more valuable.
But it was buyer demand for specialty non-mulesed types which was again extreme for the series with intense bidding on these wools helping them to obtain premiums of upwards of 200c, when compared to similar mulesed lots.
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According to the AWI market report Australia's largest wool trading company continued in their dominant buying mode with purchases extending across across the offering.
Some good support came on the Merino fleece came from China's largest top-maker and Chinese indents.
Another large offering is scheduled for next week with 51,295 bales listed with all centres selling on Tuesday and Wednesday, with Melbourne selling on Thursday again.
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