Season 18 – Week 31
Source: Australian Wool Exchange (AWEX)
The Australian wool market has continued its slow upward trajectory in Week 31.
Quantities reduced slightly compared to Week 30 and 38,830 bales were offered to the trade.
When compared with the corresponding sale of 2018, the total amount of bales offered is down by 177,047 bales, a reduction of 15.7 percent.
Although the market recorded an overall positive movement for the series, the merino sector performed with mixed results.
Better style wools, with favourable additional measurement results continue to attract excellent buyer support, resulting in very little change for these types.
Off style types, wools carrying higher vegetable matter (vm) and those with high mid-breaks lacked the same support. The 20 to 40 cent reduction in these wools was the driving force behind the reductions in the individual micron price guides (MPGs).
The AWEX eastern market indicator (EMI) added 7 cents for the series. The EMI has now recorded an increase for the five consecutive weeks, for a total increase of 85 cents.
Long low vm types continue to outperform the rest of the skirting market and these wools recorded very little change for the series.
The increasing supply of higher vm types eased, however, generally between 25 and 45 cents, lots carrying fault such as cott and colour most affected.
The crossbreds were by far the best performing sector this week, and the increases in these types was a contributing factor for positive movement in the EMI. 26.0 to 28.0 micron added 80 to 100 cents, all other microns were generally 25 to 45 cents dearer.
Although all types and descriptions recorded rises, it was the better prepared lines that attracted the strongest competition, and as a result posted the largest gains.
Week 32’s national offering increases. Currently, there are 40,426 bales rostered for sale in Sydney, Melbourne and Fremantle.