Season 17 – Week 52
Source: Australian Wool Exchange (AWEX)
Week 52 hosted the final sale of the 2017/18 season. Fremantle’s return to the market after a one-week recess helped push quantity up to 31,784 bales.
Some of the heat left the market this week, after the large increases experienced over the previous few sales. This has resulted in price corrections to finish the year. The finer microns were the hardest hit in the softer market, resulting in 18.5 micron and finer generally falling by 20 to 40 cents; 19.5 to 20.0 were less affected and were 10 to 20 cents easier. A limited offering of 21.0 micron and coarser managed to record increases for the sale, generally 5 to 10 cents.
These increases pushed the individual Micron Price Guide (MPG) for 21.0 micron, further into record territory in all three centres.
Worth noting, the Western region recorded general increases of between 40 and 80 cents for the series, because they did not sell in the previous week, where large gains were recorded in the Eastern states markets.
The benchmark Eastern Market Indicator (EMI) dropped 17 cents from its all-time high reached in the previous week, closing at 2056 cents.
Despite the small reduction, the EMI has risen 531 cents for the season, an increase of nearly 35 percent, which is largest seasonal increase in the EMI since 2011. In the 2017/18 season, over 3.4 billion dollars’ worth of wool was sold to the trade.
The crossbred sector also lost ground this week, generally between 5 and 20 cents, 30.0 micron and coarser least affected. A limited supply of oddments were generally 5 to 10 cents easier.
Next week is the first sale of the 2018/19 season.
Week 1 is typically one of the larger sales, as sellers wanting to sell into the new financial year enter the market.
Currently, there are 43,232 bales rostered for sale.