Elders Weekly Wool Market Report | Season 17 - Week 32

Weekly Wool Market Report

Season 17 – Week 32

Source: Australian Wool Exchange (AWEX)

After the exceptional start to the calendar year, where the Benchmark Eastern Market Indicator (EMI) reached a record high, the last three weeks have seen the Australian Wool Market steadily fall, resulting in the EMI reducing by 80 cents over this period.

Week 32 has seen the decline halted in stunning fashion. Prices rose across the entire merino spectrum, on all types and descriptions.

Wools that were previously heavily discounted – in particular, wools with high mid-breaks – had the discounts reduced, as buyers attempted to secure quantity.

Prices generally rose between 60 and 120 cents, with some superfine types extreme.

The EMI gained 80 cents for the week, pushing it back to its record high of 1818 cents.

The 80 cent increase is the largest weekly rise since January 2011.

Most of the 80 cents was attributed to a 70 cent rise on the first day, which was the largest single day rise in seven years.

Although the EMI could only equal its record, the Micron Price Guides (MPG) for 17.5 to 18 micron and 20 to 21 micron did manage to set new individual highs.

The skirtings also managed to post large gains, generally between 50 and 100 cents.

Wools finer than 17.5 micron and those carrying less than 2 percent of vegetable matter were the most sought after, and thus enjoyed the largest increases.

The crossbreds also experienced a sharp lift. General price rises of between 40 and 80 cents were felt across the board. The oddment sector managed to rebound strongly this week. Prices generally increased by 80 to 140 cents, pushing the carding indicators up by an average of over 90 cents.

The recent decline in price has kept some sellers away from the market. This week’s lift, however, seems to have encouraged them back, boosting sale quantities. Currently, there is just over 43,000 bales rostered for sale nationally.

National Wool Selling Centre, telephone 03 8325 7000

.

Wools that were previously heavily discounted had the discounts reduced, as buyers attempted to secure quantity. Source: AWEX

Wools that were previously heavily discounted had the discounts reduced, as buyers attempted to secure quantity. Source: AWEX