Weekly Wool Market Report
Season 17 – Week 30
Source: Australian Wool Exchange (AWEX)
The Australian wool market has continued to track downward in Week 30 after the losses experienced at the previous sale.
Buyers were again more selective with their purchases. The result was wools with unfavourable test results struggling to find support in the falling market. Lots with very high mid-breaks became almost unquotable as they lost buyer interest.
Conversely, wools with very low mid-breaks attracted intense competition. The result was that some recorded very little change in price: 18.0 through to 20.0 micron were the hardest hit. Prices were generally reduced by 30 to 80 cents.
The benchmark Eastern Market Indicator (EMI) fell by 57 cents, the largest weekly fall in the AWEX-EMI in two-and-a-half years, since June 2015, to close at 1744 cents.
Worth noting is that a stylish selection of 17 micron and finer resisted the falling market and managed increases of 5 to 15 cents.
The skirting sector was dependent on vegetable matter: the higher the vm the greater the reduction in price.
The crossbred sector also suffered large corrections. Any lines that were poorly prepared lacked buyer interest and suffered heavy discounts. Prices generally fell by 40 to 80 cents, the exception being 32 micron and coarser which were only 10 to 20 cents easier.
The oddment market was the fastest climbing sector over the past three months. Records were set and broken in a continual upward cycle. Many pundits believed that the sector was over priced and last week saw a significant correction. That said, nothing could have prepared the trade for the free-fall in prices of this sale.
Carding prices were continually reduced, by the final hammer the fall in price was 150 to 250 cents.
The three Merino Carding Indicators fell by an average of 198 cents, and it was the largest weekly fall (in cents) in the AWEX Carding Indicator for all regions (since 1997).
Elders National Wool Selling Centre: (03) 8325 7000