Weekly Wool Market Report
Season 18 – Week 7
Source: Australian Wool Exchange (AWEX)
Sales resumed this week after the annual three week mid-year recess.
Historically, this sale is normally a larger one, due to the extended break.
This year, 52,359 bales were offered to the trade. Sales opened on Tuesday with only Sydney and Melbourne offering.
Buyer sentiment was very positive from the outset as they fought to obtain wool to cover orders sold over the break.
The benchmark Eastern Market Indicator (EMI) managed a modest 1 cent rise.
However, due to the increase in the Australian dollar since the previous sale, the Eastern Market Indicator managed an impressive 34 cent rise in US dollar terms.
Wednesday saw Fremantle resume sales.
All three centres experienced rises, generally between 15 and 30 cents, pushing the Eastern Market Indicator up another 17 cents.
The final selling day saw more rises across the board in all three centres, generally 15 to 20 cents, helping push the Eastern Market Indicator a further 10 cents.
The Eastern Market Indicator closed at 1540 cents, a rise of 27 cents when compared to the previous sale.
The skirting market also experienced gains, but not to the same extent as the fleece.
Prices generally rose 10 to 20 cents with buyer focus centred on the lower vm (<3.0 per cent) and more stylish types.
The crossbred market also performed very well this week. Strong buyer demand pushed most prices up, with again the largest increases enjoyed by the better prepared lines.
Most affected was 28.0 to 30.0 micron, generally rising by nearly 50 cents for the week.
The oddment market was the only poor performer for the week.
Although a limited offering in Fremantle managed a very small increase, the eastern states markets suffered corrections generally between 20 and 40 cents, pushing their carding indicators down an average of 31 cents.
- Enquiries: please call the National Wool Selling Centre, 03 8325 7000