Season 17 – Week 46
Source: Australian Wool Exchange (AWEX)
The Australian Wool Market has continued its rapid upward climb unabated in Week 46. Across the country, 36,398 bales were offered to the trade. Due to seasonal conditions a large percentage of the offering was again made up of lesser style, lower yielding wool.
Despite the overall quality of the wool on offer, buyer demand continued to be intense, pushing prices steeply upward for the second consecutive week.
All types and descriptions generally sold at levels 50 to 90 cents above those achieved at the previous sale, wools 20.0 micron and coarser enjoying the largest gains.
The Benchmark Eastern Market Indicator (EMI) nearly matched the 55 cents increase it achieved last week, adding another 52 cents to its all time high.
The EMI continues to push into unchartered territory, the EMI has broken through the 1900 barrier for the first time, closing the week at 1943 cents.
The EMI has now risen 167 cents over the previous five sales. Also worth noting, the market movement was not heavily influenced by currency fluctuation.
When viewed in USD terms, the EMI rose by 49 cents, only 3 cents difference from the AUD basis.
The individual Micron Price Guides (MPG) for 18.0 through to 22.0 micron in all three centres are also sitting at all-time highs.
The skirting market tracked a similar path to the fleece, prices generally rose by 40 to 80 cents.
The finer crossbreds also recorded gains, pushing the MPG for 26.0 and 28.0 to new highs.
Crossbreds coarser than 30.0 micron were irregular. A limited supply of oddments has again come under intense buyer scrutiny, resulting in prices generally rising by 20 to 40 cents.
This was reflected in the three Merino Carding Indicators (MC) rising by an average of 22 cents.
As brokers receivals start to decline, so too does the national quantity. Currently, there are 31,996 bales rostered for Week 47.