Weekly Wool Market Report
Season 17 – Week 28
Source: Australian Wool Exchange (AWEX)
Week 28 on the Australian wool-selling calendar was the first sale of 2018 and the first sale for three weeks due to the annual Christmas recess. The break resulted in 53,517 bales being offered to the trade.
The previous year was full of records. The benchmark Eastern Market Indicator (EMI) finished on its highest recorded level, as did the majority of the individual Micron Price Guides (MPGs).
The market began the New Year with more record-breaking activity. Prices generally rose by 50 to 100 cents with all types and descriptions, across the entire merino spectrum enjoying similar rises, irrespective of style and spec, as buyers fought hard to secure market share in the rapidly rising market.
The EMI added a further 58 cents to the current high, pushing it to a new record level of 1818 cents.
Growers were quick to get their wool to market and keen to accept the current prices. This has been reflected in another very high clearance rate. More than 98 percent of fleece wool was sold to the trade.
Many growers have taken the opportunity to come and see their wool sold, resulting in packed spectator galleries across the country. The skirting market also experienced further solid rises. Prices generally rose by 25 to 50 cents, with wools less 18.0 micron recording the largest gains.
Crossbreds comprised more than 32pc of the national offering, in percentage terms the largest amount since December 2015. Despite the large offering, these wools generally managed gains of 10 to 30 cents, excluding 32 micron which lost buyer support and tracked downward.
The oddment sector has continued it rapid upward rise. Locks, stains and crutching generally added a further 50 to 70 cents. These increases resulted in the three carding indicators adding an average of over 70 cents to their already record highs.
In Week 29, 54,250 bales are on offer in Sydney, Melbourne and Fremantle..
- National Wool Selling Centre, 03 8325 7000