Weekly Wool Market Report
Season 18 – Week 14
Source: Australian Wool Exchange (AWEX)
In the previous two weeks, there has been very little market movement, which was reflected in the Benchmark Eastern Market Indicator (EMI) only losing 3 cents over weeks 12 and 13.
Strong buyer competition has helped push the Australian Wool Market back into positive territory.
The price increases were realised from the outset on the first selling day. Most types and descriptions gained 10 to 30 cents.
As in recent weeks wools exhibiting favourable additional measurements results, attracted significant premiums, but lesser style and spec wools also felt the effect of the rising market as buyers fought hard for quantity.
The EMI posted a 13 cent rise to finish the day at 1535 cents.
The tone evident on the first day was an indication of what was to transpire on the second. Buyer competition was intense as they attempted to secure their share of the quickly rising market.
Some price increases were extreme, but in general terms the rise in price was 20 to 30 cents.
The EMI added a further 15 cents to the previous day’s rise, closing the week at 1550 cents, an overall increase of 28 cents for the week.
The skirting market followed a very similar path to the fleece, prices rising over both selling days, resulting in general increases of 20 to 50 cents for the week; again, lower vm wools under the most buying pressure.
The crossbreds were the only sector to not record gains this week.
These wools lost further ground after recent losses, 25.0 through to 30.0 micron all lost ground, generally, 10 to 20 cents.
The oddment market continued its upward trend of the previous few sales.
This week, another limited selection again attracted excellent support, resulting in the three carding indicators posting an average increase of 16 cents.
Next week quantities increase slightly. Currently there are 39,716 bales rostered for sale in Sydney, Melbourne and Fremantle.
- National Wool Selling Centre, 03 8325 7000