Weekly Wool Market Report
Season 17 – Week 29
Source: Australian Wool Exchange (AWEX)
The Australian Wool Market commenced the calendar year with a flourish, breaking the many records it set at the end of last year.
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The second sale of the year has resulted in a more subdued buying approach and, as a result, the market has eased slightly. Over the previous few sales, many unfavourable qualities have been mostly overlooked, in particular high mid breaks and slight impurities.
These types sold at levels very close to those of wools not exhibiting any flaws as buyers attempted to secure quantity in the rapidly rising market. This sale, buyers reverted to becoming more selective in their purchases. The result was these wools again attracting discounts that were previously overlooked.
Price reductions were felt across the entire merino spectrum pushing the Benchmark Eastern Market Indicator (EMI) down 17 cents to close the week at 1801 cents. Notably, the EMI managed a small 3 cent gain when viewed in USD terms.
The skirtings tracked a similar path to the fleece. Wools with good length and strength results and those carrying low vegetable matter, sold at levels close to the previous sale.
However, lots with poor numbers and those carrying more fault, were quickly discounted. The result was general reductions of 10 to 30 cents. The crossbreds also tracked downward this week, with 26.0 to 30.0 micron recording general losses of 5 to 20 cents. Better prepared lines were the most resilient in the falling market.
After being the best performing sector in recent sales, the oddment market experienced sharp corrections. Prices for locks, stains and crutchings reduced by 40 to 60 cents, resulting in the three carding indicators falling by an average of 50 cents.
Lambs, however, went against the trend and managed to record further gains, generally 20 to 30 cents with some finer types extreme.