Elders Weekly Wool Market Report | Season 17 - Week 31

Weekly Wool Market Report

Season 17 – Week 31

Source: Australian Wool Exchange (AWEX)

After the previous sale where the Benchmark Eastern Market Indicator (EMI) dropped by 57 cents, Week 31 opened with buyers being cautious and selective in their purchases. The selection was slightly reduced compared to last week, 39,585 bales on offer nationally.

At the beginning of the sale most wools were selling at discounted levels. The only notable exception was wools with very low mid breaks, which were attracting strong demand due to their scarcity.

Inversely, the discounts for wools with high mid breaks quickly increased, as these types lost buyer support.

As the sale progressed buyer confidence slowly returned and wools that were previously being overlooked started to attract stronger competition. By the end of selling, the EMI posted a small reduction of 6 cents, closing at 1738 cents.

Worth noting, any wools with a cvh of over 55 continually reduced in price, as buyers struggled to average them into their purchases.

The skirting market experienced an up and down week, prices generally fell by 20 to 40 cents on the first selling day, only to recover the losses on the second day, to finish sale generally unchanged.

The crossbred sector performed with mixed results. The finer and broader edges managed to record small gains of 5 to 10 cents. The bulk of the offering, however, was in the 26 to 30 micron range and these types slipped another 10 to 20 cents.

The oddment sector lacked buyer confidence after the large losses of the previous few weeks. All types and descriptions were further discounted as the market struggled to find a level. Prices generally fell by 30 to 50 cents, sending the carding indicators down by an average of over 40 cents.

The last three weeks has seen the indicators drop by over 280 cents. Next week there is a similar national quantity: currently, 40,686 bales on offer in Sydney, Melbourne and Fremantle.

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Wools with very low mid breaks attracted strong demand due to scarcity. Elders National Wool Selling Centre (03) 8325 7000. Source AWEX

Wools with very low mid breaks attracted strong demand due to scarcity. Elders National Wool Selling Centre (03) 8325 7000. Source AWEX