We’ve often observed the crossbred and carding markets are the first to react when the market is moving. The merino fleece and skirtings then follow. The most significant movers in the stronger market tone were the carding and crossbred sections, with the cardings in particular jumping by between 5 and 10%. With the recent high weekly passed in rates, there is no doubt less wool has been purchased over the past month by the large topmakers, reluctant as the market level fell on a weekly basis. Stock of greasy wool would likely be low. We are of the opinion that some will need wool soon considering the pending three-week Christmas recess and the lower volumes purchased in recent weeks. This could result in a short-term squeeze over the next few weeks. Historically January has been a strong month as well. We’ll need to understand what the real demand is like, many are talking of reduced consumption but the real story of limited supply will only become more obvious into 2019 and this will only encourage more price volatility.