The unprecedented rise of the Australian Wool Market has continued in Week 47. 30,053 bales were put before the trade this week and despite the offering again consisting of many lower yielding, lesser style wools, the market continued its bullish trend, as buyers continued their aggressive approach, perhaps due to concern over upcoming supply. Merino wools received strong support with all types and descriptions posting solid gains. 17.0 micron all the way through to 22.0 micron, generally sold at levels 40-80 cents above those achieved at the previous sale.
The NRI was already sitting at an all-time high, after considerable rises over the previous few sales, this week it added a further 38 cents, pushing it to a new record of 2033 cents. The NRI has now added an impressive 453 cents Y.O.Y, an increase of 29%, while it has gained 54% or 712 cents on the past 2 years. Another point worth noting, the Individual Micron Price Guides (MPG) for 17.5 all the way through to 22.0 micron, are all sitting at previously unseen levels.