On the back of supply concerns, the Wool market rose for the third consecutive week despite the selection consisting of a large number of poorer style wools.
On the first day of selling aggressive buying pushed prices higher and as a result the NRI rose by 23 cents, finishing the day at 1,908 cents (one cent off the previous record set in February). On the second day of selling, buyers became more selective in their merino purchases, pushing prices for that sector down, however the NRI still managed a 4-cent rise, due to the steep rise in the crossbred sector.
The skirtings market managed rises of 20-40 cents, low VM lots and those with favourable AM results recorded the largest gains. The crossbred sector also continued its upward trend, posting its fourth consecutive weekly increase, with significant gains pushing some MPG’s into record territory.
The oddment market rose for the fifth consecutive trading week. All types and descriptions generally sold at levels 5-10 cents above those achieved at the previous sale.