Season 17 – Week 44
Source: Australian Wool Exchange (AWEX)
Although the Australian wool market recorded solid gains in the previous sale, toward the end of the week a softer tone was evident.
The weaker buyer sentiment carried forward into Week 44 and that combined with detrimental currency movement has contributed to pushing the market into negative territory.
The selection again consisted of many lower yielding, poorer style wools, and these types continued to be discounted as buyers again struggled to average them into their purchases.
The largest price reductions were felt in the Northern region, which posted average falls of 15 to 25 cents, compared to small positive and negative movements in the Southern region.
The overall result, was 10 a cent fall in the Benchmark Eastern Market Indicator (EMI), which closed the week at 1836 cents.
Interestingly, in a reverse of what transpired in the previous week, the tone turned positive by the end of the sale.
So much so that the Western Region recorded gains of 15 to 30 cents for the day, pushing the Western Indicator up by a healthy 13 cents on Thursday.
The skirting market had a steady selling week. Not much movement was recorded, although there was strong buyer interest in wools carrying less than 3 percent vegetable matter and those possessing excellent additional measurement results, and these lots sold at levels above those achieved at the previous sale.
After being the best performing sector in recent weeks, the crossbreds recorded losses for the first time in five weeks.
The broadest microns were hardest hit, 30.0 micron dropping by 35 cents and 32.0 micron falling 10 to 20 cents.
There were minimal movements in the oddments, the exception being in the Western region, the corrections felt there brought prices back into alignment with the Eastern markets.
Quantities reduce in Week 45. Currently 38,292 bales will be on offer.