The upcoming break, combined with intense buyer interest, created a “perfect storm” in the market place. All types and descriptions, across the entire merino spectrum, experienced sharp price increases.

The rises were felt from the opening hammer on the first selling day and continued unabated until the beginning of the final day, when buyers finally became more selective in their purchases, stabilising prices. The end result was general price increases of 40 to 90 cents.

The Benchmark Eastern Market Indicator (EMI), which was already sitting at a record high, added a further 61 cents, pushing it to a new high of 1760 cents. Notably, this is the first time the EMI has broken through the 1700 cent barrier.

The EMI has added 405 cents for the year, an annual increase of 29.9 per cent, the largest amount since 2002. The total amount of wool sold surpassed the three-billion-dollar market this calendar year for the first time since our records began (1995). The EMI has posted rises for the past three calendar years totalling 701 cents.

The micron price guides (MPGs) for 16.5 micron all the way through to 22.0 micron hit record highs in all centres on Wednesday, before softening slightly on the Thursday.

The skirting market also made significant gains, recording general increases of 40 to 60 cents. The crossbreds managed further price rises this week but not at the same extent as their merino cousins. Prices generally rose by 30 to 40 cents. The oddment market continued its strong upward trend. The Merino Carding Indicators which were already sitting at all-time highs, added an average of 47 cents each.

The market now takes a three-week break, sales resume in the week beginning January 8.