Elders Weekly Wool Market Report | Season 17 - Week 37

Weekly Wool Market Report

Season 17 | Week 37

Source: Australian Wool Exchange (AWEX)

Record prices have gradually brought previously unwilling sellers to market, pushing the amount of wool being held in broker’s stores to historical lows. Source: AWEX

Record prices have gradually brought previously unwilling sellers to market, pushing the amount of wool being held in broker’s stores to historical lows. Source: AWEX

The benchmark Eastern Market Indicator (EMI) continues to explore new heights, adding a further 26 cents to its historical high point, finishing the week at 1546 cents.

The recent trend of micron becoming a major influence on buyer activity continued with finer microns experiencing the most significant price movements, in particular 18.5 and finer, which enjoyed gains of between 60 and 100 cents.

The record prices have gradually brought previously unwilling sellers to market, pushing the amount of wool being held in broker’s stores to historical lows.

The lack of wool on hold has severely limited any large increases in weekly quantities, enabling the market to gradually rise without any extra supply pressure and this sale was no exception.

With clearance rates consistently in the 90 per cent region, the amount of wool on hold will continue to stay at these levels.

Toward the end of the last selling day, the Fremantle market showed softening signs in the 20.5 micron and coarser range, with some types coming back up to 25 cents.

The large price movements in the finer microns continue to widen the micron price differentials, with the price difference between an 18.0 and a 21.0 micron now out to nearly 700 cents.

The skirting market closely mirrored the fleece, general gains across the board but the largest rises were experienced in the finer microns, in particular 18.5 micron and finer, which in some cases rose by over 100 cents for the week.

The crossbred market again performed well, although major price lifts were centred on the 25.0 to 26.0 range which were generally 10 to 30 cents dearer, other descriptions unchanged.

The oddment market struggled to maintain its current high levels and generally lost 5 to 15 cents for the week with finer better types least affected.

Next week sees quantities rise again, this time to over 51,000 bales with offerings in Sydney, Melbourne and Fremantle.

  • Elders National Wool Selling Centre: telephone 03 8325 7000