The Australian wool market closed out a volatile 2019 calendar year with strong gains this week, adding to the modest rises recorded last sale.
The AWEX-Eastern Market Indicator added 55 cents for the series and closed the year at 1558 cents. The EMI is now 304 cents lower than this time last year, the largest calendar year fall since 2003. At this sale the market took a lead from the previous week when the EMI crept 11 cents higher. A looming three-week auction recess over Christmas, as well as a reduction in volumes this week (7,700 bales fewer than last sale and well short of the original estimate) may have contributed to buyers pushing hard to fill orders from the opening hammer.
An unusual Tuesday/Wednesday rostering due to Christmas holiday logistics in the following week did little to dampen enthusiasm and Merino Fleece types jumped 50 to 60 cents clean dearer on the opening day. Wednesday was not quite as buoyant, particularly in Fremantle, however all three selling centres still recorded increases and the Micron Price Guides generally closed 60 to 90 cents higher for the week.
Merino Skirtings tracked a similar path also closing as much as 90 cents dearer over the two days. Crossbreds made equal gains each day to finish 60 cents higher for the series. Merino Cardings had mixed results depending on the selling centre but all three auctions managed to eke out gains on the final day to go into the recess on a positive note.
Auctions will resume in the week-commencing 13th January 2020 after the annual three-week Christmas recess.
Wishing all of our clients a very merry Christmas and a prosperous 2020 from the Roberts Wool Team.