After tracking downward for the previous three weeks, the Australian wool market has managed to bounce back into positive territory in Week 15. There were positive signs toward the end of the week, especially in the Western region, which recorded healthy increases on the final day. This positive tone was evident from the beginning of this series. As buyer confidence increased, so too did the prices. Strongest demand was for a limited supply of wool 20.0 micron and coarser, pushing these types up by 20 to 95 cents, with the largest increases seen in Melbourne.
The AWEX Eastern Market Indicator (EMI) rose for the first time in a month, it recorded an increase of 31 cents for the series, to close the week at 2,023 cents. Although overall the merinos recorded increases, a large national selection of fine tender wool struggled to attract sufficient demand. The better style and spec wools sold at similar levels to the previous sale, however the losses felt in the tenders resulted in the Micron Price Guides (MPG) for 17.5 micron and finer generally losing ground. Concern over an oversupply of fine skirtings due to harsh growing conditions, helped to push the broader types higher by up to 100 cents, with the higher vegetable matter types enjoying the largest gains, as buyers attempted to secure meaningful quantity of a limited selection.
The crossbreds had an overall positive sale, most types and descriptions posted gains, only 28.0 micron failed to record increases for the week. The oddment sector was again the poorest performer this sale. Despite having different results in each centre, overall the three carding indicators fell by 6 cents. Quantities increase next week. Currently, there is 37,664 bales rostered for sale in Sydney, Melbourne and Fremantle.