Elders Weekly Wool Market Report | Season 17 - Week 48

BULLISH: All wool types among the more than 30,000 bales offered this week shifted into record territory.
BULLISH: All wool types among the more than 30,000 bales offered this week shifted into record territory.

Elders

Season 17 – Week 48

Source: Australian Wool Exchange (AWEX)

The meteoric rise of the Australian Wool market has continued in Week 48. In what has almost become the norm in recent times, prices were again driven sharply upward.

As the season heads into the traditional quiet time of year, quantities continue to decline, forcing buyers to have to work hard to secure their share of the reduced offering.

A total 30,439 bales were offered to the trade and strong demand was evident from the outset. All types and descriptions, regardless of style and spec, across the entire merino spectrum were swept further into record territory.

By the final hammer prices had generally risen by 40 to 60 cents. The Benchmark Eastern Market Indicator (EMI) added 44 cents for the week, to finish at 2,027 cents, pushing it through the 2,000-cent barrier for the first time.

After four consecutive large weekly rises, the EMI has now added 190 cents over the previous month, an increase of over 10 per cent. This is the largest monthly percentage rise in the EMI in over five and half years.

The skirting market behaved very similarly to the fleece, small impurities eg. colour or cott, were basically overlooked as buyers scrambled to secure meaningful quantity. Prices generally increased by 40 to 80 cents, wools finer than 18.0 micron and those carrying less than 4pc vegetable matter recording the largest gains.

The crossbred sector had another week of mixed results, 30.0 to 32.0 micron again failed to attract strong support and recorded little movement. 25.0 to 28.0 micron on the other hand, were strongly contested, pushing prices up by 25 to 55 cents.

A limited offering of oddments received solid support, which was reflected in the three carding indicators rising by over 11 cents.

Due to the Fremantle market having a recess in Week 49, quantities significantly reduce.

Currently there are 27,270 bales rostered for sale, selling in Sydney and Melbourne only.

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Elders National Wool Selling Centre: 03 8325 7000

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