Season 17 – Week 50
Source: Australian Wool Exchange (AWEX)
The Australian wool market has bounced back into positive territory after suffering losses in the previous sale.
Fremantle returned to the wool-selling program after a one-week break, helping to push the national offering up to 28,029 bales.
Although the market recorded overall gains, which was reflected in the Eastern Market Indicator (EMI) rising by 10 cents to 2021 cents, not all microns managed to record upward movement.
18.5 micron and finer suffered falls of between 5 and 30 cents, as main buyer interest was focused on the broader section of the offering.
The largest increase in price was felt in the 19.5 to 22.5 micron range, which rose by 10 to 40 cents.
The individual Micron Price Guides (MPG) in all three centres for 20.0 to 22.0 micron have pushed further into record territory.
Due to the fact that the coarser microns recorded the largest gains, the price differentials have constricted.
By the end of the sale the there was only 5 cents separating the price of 19.5 to 21.5 micron.
In some instances, selected coarser microns were bringing more money than similar wool with a finer micron.
The skirting sector followed a similar path to the fleece, 19.0 micron and finer retracted, generally by 20 to 40 cents, with lots carrying more than 4.0 percent vegetable matter most affected.
19.5 micron posted rises for the sale, generally between 10 and 20 cents.
A very limited selection of oddments attracted strong demand, pushing prices slightly higher for the sale, generally 5 to 10 cents.
This was reflected in the three carding indicators rising by an average of 4 cents for the week.
As a result of Fremantle having another recess next week, quantities reduce for the following sale.
Currently, there are 21,326 bales available to the trade, the smallest offering of the year, selling in Sydney and Melbourne only.