The NRI maintained its sixteen-month high this week closing at 1375, a level that has only been exceeded on three
selling days in past 5 years (each of which occurred in June 2015, when the NRI peaked at 1399). Despite the significantly larger offering that was put before the trade this week, the market held up well, with only minor adjustments recorded.
Again it was the Best and Spinners styles that received strong competition and recorded solid premiums over other
types in the finer microns. A number of the finer MPG’s maintained their recent 5-year highs, while any odd pockets
of weakness were limited. Merino Skirtings were also well supported in the finer microns, with best types up to 20 cents dearer, while the MC indicator rose 29 cents for the week. However the Crossbred market had another soft week, losing 10-20 cents for most microns.
Next week’s offering extends to over 49,000 bales with sales in Melbourne, Sydney and Fremantle.