Weekly Wool Market Report
Season 16 | Week 20
Source: AWEX
Consistent volumes have been a feature of recent auctions and this sale marked the third consecutive week where volumes were just over 47,000 bales.
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The reasonably large supply had little effect on the market.
The benchmark AWEX Eastern Market Indicator (AWEX-EMI) rose a total of 24 cents for the week to close at 1314 cents.
The AWEX-EMI has been trading in a 50-cent band all season and had hit a seasonal low last sale at 1283 cents, but after this week it now sits midway in that range.
Commencing the week in isolation on Tuesday, the Melbourne sale made a modest 4 cent rise in the Southern Indicator, which set the tone for the week.
Sydney and Fremantle joined Melbourne on Wednesday and all three centres opened very strongly and continued to strengthen as the sale progressed.
Thursday saw a very similar tone, a strong opening followed by a gradual but noticeable firming of prices (although Melbourne softened slightly towards its close).
During the series, most of the merino micron range enjoyed rises of between 20 and 50 cents, with the most pressure on selected pockets in the finer microns.
In stark contrast to recent sales, it was the lesser types which experienced the greatest gains as buyers attempted to find cheaper alternatives in a rapidly rising market.
The skirting market closely followed the fleece market with all types and descriptions enjoying gains of between 30 and 50 cents.
Crossbreds had mixed results, losing further ground in the 25/26 range while recovering in the broader microns.
The oddment market didn’t get left behind this week with all carding indicators across all three centres rising on every sale day and finishing around 20 cents dearer.
- Elders National Wool Selling Centre: telephone 03 8325 7000