Weekly Wool Market Report
Season 17 – Week 21
Source: Australian Wool Exchange (AWEX)
After the recent run of sustained upward movement, the Australian Wool Market has tracked downward last week: 48,409 bales were offered to the trade, the size of the offering allowed buyers to be more selective in their purchases.
The market opened solidly, wools sold at levels at or above those achieved at the previous sale.
However, as the sale progressed, prices began to slowly but noticeably deteriorate.
In recent weeks, as the market rose, the finer microns enjoyed the largest increases in price.
The finer microns again experienced the biggest market movements.
Last week, however, it was price corrections; the finer the micron, the greater the reduction in price.
In general terms, 18.5 micron and finer fell by 30 to 40 cents for the week, compared with 15 to 20 cents for the 20.0 micron and coarser.
Despite the large drop in price of some types, the Benchmark Eastern Market (EMI) gave back only 14 cents of its recent gains, closing at 1669 cents.
Notably, in US dollar terms, the EMI gave back a mere 9 cents.
Even with the EMI reducing slightly, compared to the corresponding sale of the previous season, the EMI has added 306 cents a 22.5 per cent increase.
The skirting market closely mirrored the fleece, prices generally reduced by 20 to 40 cents, the finer microns and wools carrying larger amounts of vegetable matter most affected.
The crossbred sector also experienced price corrections, generally 20 to 40 cents, with 28.0 micron and coarser suffering the largest reductions.
The oddment market defied the other sectors and managed to maintain its upward trend.
Most types and descriptions recorded price rises of 10 to 20 cents for the week, the finer wools enjoying the greatest increases.
A large offering of lambs was irregular but generally 15 to 30 cents dearer.
- National Wool Selling Centre, 03 8325 7000