In a week that left people wondering, the AWEX EMI finished 170¢ higher (+12.5%) in Australian currency and 125¢ higher (+13.4%) in US currency at sales in Sydney, Melbourne and Fremantle this week.

The weekly changes in the EMI since the resumption of sales in August have now ranged from -122¢ two weeks ago to +170¢ this week.  The EMI at 1535¢ is now 141¢ below its closing value in the first sale after the break.

The WMI moved up by 198¢ on Wednesday, but that included a catch-up component for the previous week, when market moved up on Thursday and Fremantle did not sell on that day

19,193 bales were on offer nationally, compared with 21,694 bales last sale.  5.2% of the offering was passed in after 20.7% of the initial offering was passed in prior to sale.

AWEX reports that the value of the wool sold was $30.7 million ($1,688 per bale), taking the season total to $325.8 million ($1,719 per bale).

The New Zealand Merino Company also offered 2,646 bales in Melbourne on Thursday, of which 13.2% were passed in.

There was an general expectation among the trade that the market would move up this week.

There were large gains across all types and micron ranges, with the greatest gains among the Merinos occurring from 18.5 to 22 microns.  There were similar percentage changes among the crossbreds; while the average AWEX Merino Cardings Price Guide moved up by 155¢ (+18.6%) to match the percentage changes of the best of the Merinos.

The US Exchange Rate moved up to finish 0.64¢ (0.9%) higher to close at 68.81¢ on Thursday.

Buyers for China were dominant, with support from buyers for Europe and India.

In other countries, the South African Cape Wools Indicator up by 10.8% since last week.

Looking ahead, offerings for the coming three sales are expected to range from 28,510 bales to 33,980 bales and to be 12.1% less than in the same period last year.  The forecast progressive difference to Week 14 is -20.8%.