Season 18 – Week 30
Source: Australian Wool Exchange (AWEX)
The Australian wool market has continued its steady upward climb in Week 30.
The national offering reduced to 41,757 bales, a reduction of 9946 bales when compared to the previous sale, which was the largest of the season.
The smaller selection attracted strong demand, helping to push prices upward.
As in recent sales, it was wool possessing favourable additional measurement results, in particular those with low cvh (coefficient of variation of hauteur) readings (less than 50), that attracted the greatest attention.
As these types are in short supply, they recorded the largest increases for the series and were a major factor in many of the individual Micron Price Guides (MPGs) posting positive movements.
A large selection of tender wool and wool with high cvh readings lacked strong support and these wools lost ground.
The AWEX eastern market indicator added 4 cents for the sale, to close at 1927 cents.
In a solid start to the calendar year, in the first three sales of 2019, the EMI (Eastern Market Indicator) has increased by 48, 13 and 4 cents respectively.
The Eastern Market Indicator has now risen for four consecutive weeks, since gaining 13 cents in the final sale of 2018.
After performing well over the previous two weeks, a large selection of crossbreds had a week of mixed results.
Wool 26 micron and finer lacked buyer support and recorded losses of 30 to 40 cents.
The broader range of 30 to 32 micron attracted good demand, resulting in general price rises of 10 to 20 cents.
The oddment market experienced losses this week.
The prices for locks, stains and crutchings were generally reduced by 20 to 40 cents, pushing the three carding indicators down by an average of 27 cents.
The quantity for the following sale will be slightly less than this week.
Currently, there are 40,629 bales on offer in Sydney, Melbourne and Fremantle.