Elders
Season 18 – Week 29
Source: Australian Wool Exchange (AWEX)
Week 29 on the Australian wool selling program is the second sale of the calendar year and – due to the wool accumulated over the recent three-week recess – quantities remained high.
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The final amount offered was 51,703 bales. This was the largest national offering since April last year.
Despite the last two weeks having a large amount of wool for sale, the overall national quantity is still well down on the previous season.
When compared to the corresponding sale of 2018, the total amount of bales offered at auction is down by 175,524 bales, a reduction of 16.8 percent.
The merino fleece market was mixed in its performance.
The three centres behaved slightly differently, with varied positive and negative movements recorded across the board.
Although there was an inconsistent pattern, the overall trend was upward.
This was reflected in the movement of the AWEX eastern market indicator (EMI) which gained 13 cents for the series, closing the week at 1923 cents.
Skirtings managed to record upward movements, generally between 20 and 40 cents.
Wools coarser than 19-micron attracted the most attention and as a result enjoyed the largest gains.
The crossbreds were the best performing sector for the week. Large gains of 50 to 80 cents were experienced in the 26 to 28-micron range.
Similar to the fleece, the results in the oddments varied between centres, the North and West recorded 20 to 30 cent rises, while the South posted a small reduction but again the overall trend was positive.
Despite the strong market the national offering reduces in Week 30.
Most of the wool is from sheep shorn in recent weeks, as the back log of wool delivered during the break has mostly been cleared.
Currently, there are 41,503 bales available to the trade in Sydney, Melbourne and Fremantle.
