WOOL prices continue to edge up, with most of the gains going to the middle micron type.
AWEX last week reported a gain of 6c/kg in the Eastern Market Indicator to 873c/kg clean.
Although the market was helped by an easing in the Australian dollar, in US dollars, the EMI closed up 1c/kg to a 15-month high of US811c/kg clean.
The southern 21-micron indicator, which last week closed at 905c/kg clean, is now at a two-year high, while the 18-micron indicator struggles to hold at 1152c/kg clean.
Comparing the 18 and 21-micron indicator, the former is now only at a 27 per cent premium to the latter.
Australian Council of Wool Exporters executive director Dr Peter Morgan said the latest AWTA test data told the story. He said the supply of 19.5 micron and finer was up 4 per cent for July-November compared to last year, while the supply of the 19.6-micron wool and broader was down 12 per cent.
This week, the Australian Wool Forecasting Committee will review the clip and flock estimates. It is likely to maintain its July clip estimate of 335 million kilograms, or an 8.1 per cent fall for this season.
