Elders Weekly Wool Market Report | Season 17 - Week 47

Elders

Season 17 – Week 47

Source: Australian Wool Exchange (AWEX)

The unprecedented rise of the Australian Wool Market has continued in Week 47.

As the season progresses the national offering continues to reduce. A total of 30,053 bales were offered to the trade.

Despite the offering again consisting of many lower yielding, lesser style wools, the market continued its bullish trend, as buyers continued their aggressive approach, perhaps due to concern over upcoming supply.

Merino wools received strong support with all types and descriptions posting solid gains. 17.0 micron all the way through to 22.0 micron, generally sold at levels 40 to 80 cents above those achieved at the previous sale.

Interestingly, due to the coarser microns posting the largest increases over the previous three sales, the average price difference between a 19.5 and 22.0 micron, is now only 50 cents.

The Benchmark Eastern Market Indicator (EMI) was already sitting at an all-time high of 1943 cents, after considerable rises over the previous few sales.

This week the Eastern Market Indicator added a further 40 cents, pushing it to a new record of 1983 cents.

The Eastern Market Indicator has now added an impressive 488 cents over the previous 12 months, an increase of over 32 percent.

Over the previous 24 months the Eastern Market Indicator has risen by 53 percent or 691 cents.

Another point worth noting, the Individual Micron Price Guides (MPG) for 17.5 all the way through to 22.0 micron, are all sitting at previously unseen levels.

Skirtings followed a similar path to the fleece, posting healthy gains of 40 to 60 cents, wools carrying less than 3.0 percent vegetable matter and those possessing favourable additional measurement results, enjoying the largest gains.

A limited selection of oddments recorded general increases of 15 to 40 cents, pushing the three carding indicators up by an average of 30 cents.

Quantities increase slightly in Week 48, with 31,336 bales rostered for sale.

The market continued a bullish trend - buyers, an aggressive approach - perhaps due to concern over upcoming supply. Source: AWEX

The market continued a bullish trend - buyers, an aggressive approach - perhaps due to concern over upcoming supply. Source: AWEX

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Elders National Wool Selling Centre: 03 8325 7000