Season 18 - Week 41
Source: Australian Wool Exchange (AWEX)
In what is becoming a familiar pattern, the Australian wool market has lost further ground in Week 41, on the back of an ever-increasing selection of lower yielding / lesser style wools.
As brokers are reporting a sharp decline in shearing activity, the national quantity has decreased slightly this week, 37,527 bales were available to the trade.
Although the overall quantity only slightly decreased, the weekly offering in the north was the smallest sale since AWEX began (since 1995).
Perhaps because of the smaller selection, the Sydney market recorded the smallest losses, as buyers fought hard over a very limited quantity.
The market started the calendar year strongly, the AWEX Eastern Market Indicator (EMI) rose for seven weeks in a row, adding 165 cents over that period.
After losing 7 cents for this series to close the week at 1936 cents, the EMI has now fallen for seven consecutive weeks, losing a total of 91 cents. The EMI has not fallen for seven successive weeks since November 2003. Despite the long run of losses, the EMI is still 57 cents above where it was at the beginning of the year.
The crossbreds continue to defy the overall trend of the market, recording gains again this week, 25.0 through to 30.0 micron generally rose by 20 to 30 cents.
The Micron Price Guide (MPG) for 28.0 micron reached a new record in the South on the back of these rises.
The increases in crossbred prices, prevented the EMI from falling further than it did.
The Western Indicator does not include crossbred types, this explains why the Western Region Indicator recorded more substantial losses than the east.
Quantity increases for the following sale, currently there is 42,487 bales on offer in Sydney, Melbourne and Fremantle.
Worth noting, due to the Good Friday public holiday, sales will be held on Tuesday and Wednesday.
If you have a query, please contact Elders National Wool Selling Centre on (03) 8325 7000.