Season 18 - Week 50
Source: Australian Wool Exchange (AWEX)
The Australian wool market has recorded further losses in week 50.
The Fremantle region resumed sales after a one-week recess, helping to push the national offering up to 28,140 bales.
With only two weeks remaining on the 2018/19 wool selling program, the national offering has fallen by 220,733 bales, a reduction of 12 per cent when compared to the 2017/18 season.
Best style wools with good additional measurement results, attracted strong demand and recorded only minimal losses.
The lesser style wools and those with poor additional measurement results however, lost buyer support and continued to lose ground.
By the end of the series, these types were generally selling at levels 50 to 90 cents below the prices achieved in the previous week.
The price reductions resulted in the AWEX Eastern Market Indicator (EMI) losing 41 cents for the series, to close the week at 1823 cents a kilogram.
It was a strong start to the calendar year, where the EMI rose for the first seven weeks, climbing from 1862 cents to 2027 cents, a gain of 165 cents.
Now, however, the EMI has now fallen for five of the previous six weeks, dropping a total of 113 cents over this period.
The EMI is now 293 cents below the record of 2116 cents it achieved in August last year and 198 cents lower than the same time last year, which equates to a fall of 9.8 per cent.
The crossbred sector recorded losses, generally between 20 and 30 cents.
The poorly prepared lines were most affected as buyers focused on the better style wools.
The oddments were also discounted, most types and descriptions fell by 20 to 30 cents.
This was reflected in the three carding indicators, which fell by an average of 20 cents.
The Fremantle region will have another one-week recess in week 51.
Currently there are 19,745 bales rostered for sale, with selling taking place in the Sydney and Melbourne centres only.