The Australian wool market has managed to reverse the downward trend it was on, recording overall positive movements after three weeks of losses. There is only two selling weeks before the annual Christmas break and many exporters needed this week to complete orders in time for shipment dates. The need to buy wool helped push demand, the result was spirited bidding from the outset, pushing prices higher. All types and descriptions across all merino microns enjoyed the increases, as buyers scrambled hard for quantity whilst available.
The individual Micron Price Guides (MPGs) across the country recorded increases of between 7 and 45 cents, with the exception of the Southern 18.5 micron MPG which lost 19 cents. The rises in the MPGs helped to push the AWEX Eastern Market Indicator (EMI) up by 11 cents for the series, which closed the week at 1,503 cents. The national turnover this season passed the one-billion dollar mark, this took seven more sales than the previous season, where the billion dollar amount was reached in Week 16. The skirtings also recorded overall positive movement for the series, generally between 10 and 20 cents. Although the skirtings posted gains for the week, there was a softening on the final day, generally 10 cents clean.
In contrast to the previous series, where the oddments were the only sector to record increases, this series the oddments were the worst performing. General losses of between 10 and 25 cents resulted in average losses of 19 cents across the three regional carding indicators.
Due to a National Auction Selling Committee (NASC) business rule, that there must be four business days between the final selling day and Christmas Day, next week’s auction is selling on Tuesday / Wednesday.