Weekly Wool Report

This week saw the opening sales of the new wool selling season, realising an increased national offering of 43,880 bales and coinciding with the new financial year and was certainly no surprise to the wool trade. The National selection on offer is again the main talking point and in fact in most part explains the lacklustre market witnessed which saw all centres cheaper on day 1 and part of day 2 with a firmer tone evident in all centres at the conclusion of sales.

An interesting fact as reported by AWEX this week is that a third of the national offering and 57% of the WA offering was wool older than 180 days, an interesting observation and surprising when the market has been hitting record levels now for many weeks, this has added to the high volume of off-style types which continue to be discounted as the larger than normal offering simply cannot be placed into export orders and will not be purchased as stock.

The strong demand we have witnessed for the better measured wools continued this week with these wools again hotly competed for by exporters. The market saw Merino fleece 16 to 22 mic 30c to 90c cheaper, Crossbreds 26 to 28-micron 20c to 40c cheaper, Merino Skirtings 50c to 80c cheaper and carding wools also 5c to 15c cheaper. Sales continue next week in Melbourne, Sydney and Fremantle with an estimated 41,431 bales rostered for sale.