Weekly Wool Market Report
Season 17 – Week 19
Source: Australian Wool Exchange (AWEX)
After last week’s significant market increases, where the benchmark Eastern Market Indicator (EMI) managed a 45 cent increase, the Australian Wool Market progressed even further into positive territory this week.
All types and descriptions across the entire merino spectrum were hotly contested, generally pushing prices up by 40 to 60 cents, with some finer specialty types increasing by over 100 cents.
As in recent weeks, wools with favourable length and strength results were the most highly sought-after.
However, this sale many unfavourable test results were ‘overlooked’ as buyers attempted to secure market share in a rapidly rising market.
The Eastern Market Indicator recorded a 58 cent rise to finish the week at 1681 cents, continuing its record high.
The overall passed in rate was only 1.3 per cent, the lowest figure since August 2015, showing grower willingness to accept the current price levels.
Skirtings followed a very similar path to the fleece. Prices generally increased by 40 to 60 cents for the week, FNF (less than 2pc) coming under the most buyer interest.
After many weeks being outperformed by their finer cousins, the crossbreds managed to record higher general increases than the merino sector. The entire crossbred sector, from 25.0 all the way through to 32.0 micron enjoyed price rises of 50 to 80 cents.
The oddment market continued its rapid rise again this sale. A limited quantity came under intense widespread buyer competition, all types and descriptions made significant upward movement.
Generally, prices increased by 40 to 80 cents for the week pushing the three carding indicators up by an average of over 62 cents.
This week, quantities increase: currently there are nearly 50,000 bales on offer nationally.
- National Wool Selling Centre, 03 8325 7000