The Australian wool market has shown resilience this week as the benchmark eastern market indicator (EMI) finished the series six cents higher to close the week at 1413 cents per kilogram, clean.
Over in the west, the Western Market Indicator (WMI) also posted a rise, up 13c to finish the week at 1457c/kg.
The minimal movement in the market was despite continuing concerns around logistics and a stronger Australian dollar.
Reports are continuing that shipping availability is becoming an increasing problem.
Combined with wool dumps nearing maximum capacity and possibly struggling to meet shipping deadlines, exporters were reportedly concerned, speculating that the market would retract, with indications the losses could be large.
These expectations were not realised however, as the market instead recorded upward movements in nearly all sectors, on the back of sustained, strong, widespread competition.
General gains of around 10 to 15c were seen in the Merino fleeces while modest increases in crossbred wools were a welcome change to the long-term weaker prices.
The highest movers for the week were the 16.5 micron fleeces in Sydney which posted a 26c improvement followed by the 18.5 microns also in Sydney which lifted 21c on the week prior.
All medium to finer types rose in Fremantle with lifts ranging between 10 to 19c.
The micron price guides for 28 to 32 added between one and 13c for the week.
According to the AWEX weekly market summary, global stocks of those broader wools are slowly moving again, giving some minor confidence that more of that type can find a home at the consumer level.
Cardings in Sydney were down 5c but firmer in Melbourne and Fremantle rising 3 and 17c respectively.
By the end of the series, the individual micron price guides for Merino fleece ranged from fully firm to +26 cents, only the 16.5 micron MPG in the south posting a loss (-14 cents).
The national offering reduced slightly to 49,431 bales, with the pass-in rate averaging 10.2 per cent.
Next week's sales will again be held on Wednesday and Thursday due to a Monday Public Holiday in Melbourne with the national offering of 48,544 bales expected to be offered in Sydney, Melbourne and Fremantle.
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