Weekly Wool Market Report
Season 17 – Week 20
Source: Australian Wool Exchange (AWEX)
The recent strength in the market attracted a large offering last week with just over 50,000 bales offered nationally.
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It was the largest offering in three months.
Fifty six per cent of the national total was offered in Melbourne, its largest sale since January.
That pushed the centre out to a three-day sale, resulting in a Melbourne-only sale opening the week on Tuesday.
The market continued its recent form with solid rises early in the week before a downturn later in the series.
The benchmark Australian Wool Exchange Eastern Market Indicator (AWEX-EMI) hit another record high on the back of those rises but eased back 6 cents on the final day.
The week-on-week still managed an increase, however, adding 2 cents when compared to the previous sale.
Support generally reflected the selection which lacked the more stylish types seen in previous sales.
Subsequently there were mixed results with prices tended to be driven by the quality of each micron category.
The large volumes and strong prices pushed the turnover to more than 96 million dollars, the largest since 2002 (there were 74, 506 offered during that week).
After making a firm start, Merino skirtings eased back late in the week to finish slightly lower.
Crossbreds continued to show volatility, falling sharply and closing as much as 50 cents lower.
Merino cardings made record highs again during the week, although there was some slippage on the final day.
Another large offering is expected this week with almost 49,000 bales forecast to be offered.
- National Wool Selling Centre, 03 8325 7000