Weekly Wool Market Report
Season 17 | Week 38
Source: Australian Wool Exchange (AWEX)
As prices rise, so too does the amount of wool coming onto the market.
Subscribe now for unlimited access.
$0/
(min cost $0)
or signup to continue reading
Week 38 saw another increase in quantity, this time to over 48,000 bales. The increase in quantity may have contributed to the eventual fall in prices.
Wednesday saw significant price rises in the fine micron sector helping to push the benchmark Eastern Market Indicator (EMI) a further 5 cents to close at 1551 cents, another record high.
Although the market was trending upward, buyers became more selective in their purchases. Within each micron group, it was the stylish/low cvh/high nkt lots that attracted the greatest competition and hence posted the largest price rises.
Towards the end of the selling day prices for lesser types were starting to show irregularity and despite the rise in the EMI, the market indicators for 21.0 micron and coarser fell by an average of over 10 cents.
The tone from the end of day one continued from the outset of the second day. Buyers continued to be selective and the market started to slide: 18.0 micron all the way through to 22.5 micron generally eased between 10 and 30 cents. The EMI lost the 5 cents it gained on the previous day to close the week unchanged at 1546 cents.
Recent record high prices are pushing national auction turnover figures into record territory, this sale the total auction turnover went past the 2 billon dollar mark.
The skirtings closely mirrored the fleece market, fine wools made large gains for the week, while wools 19.0 micron and coarser lost ground. The crossbred market had a mixed week with 25.0 to 26.0 micron gaining 10 cents while 28.0 to 30.0 lost 10 cents. The oddment market had a solid week with most types and descriptions selling at very similar levels to the previous sale.
- National Wool Selling Centre 03 8325 7000