The Australian wool market completed week 2 of the new selling season and closed for the annual 3 week recess, a short period of time allowing exporters to undertake overseas travel to visit clients and write new business, wool broking staff to focus on other weekly activities with the time pressures of building a weekly wool sale removed. The benchmark Eastern Market Indicator closed at 1981 c/kg.
This week’s sales commencing on Wednesday in Melb, Syd and Fremantle eased from the first lot offered across all microns and types as exporters completed orders for shipment and carefully tried to avoid taking stock into the 3 week recess. The market once again witnessed a large offering of lower style and specification wool’s a result of the ongoing drought conditions in many wool growing areas, whereas the well measured stylish wool’s were again well supported and benefitted from an improved tone in the sale room when they were being offered for sale, superfine types continue to see improved demand and competition. Merino fleece: Most microns par to 30c cheaper, Merino skirtings; Gen unchanged, XB fleece 28.0 micron found support late in the week 20c cheaper, 30.0 micron 10c dearer, 32.0 micron 10c dearer, Oddments well supported and gen unchanged. Sales resume in Melb, Syd and Fremantle in 3 week’s time.