Wool Report

The market compared to the previous selling week saw some of the heat diminish however there were still positive signs for the market going forward. The quantity on offer was 34,513 bales, the National offering is now down by 18.0% when compared to the corresponding sale of the previous season. The merino fleece sector failed to attract the same amount of support that it enjoyed during last week’s sale.

The result was price reductions, inferior style wool and wool with unfavourable additional measurement results the hardest hit in the falling market. 18.5 micron through to 21.5 micron generally lost between 15 and 30 cents for the series. Although the merino fleece sector generally recorded losses, the AWEX Eastern Market Indicator (EMI) managed a 2-cent increase for the week, to close at 1,860 cents. However, this was mainly due to substantial rises in the crossbred sector. The skirtings went against the trend of the fleece and added further gains to those achieved last week.
Prices achieved were generally 10 to 30 cents above those achieved at the previous sale, wool carrying less than 2.0% vegetable matter (vm) enjoying the largest gains. As previously mentioned, the crossbred sector recorded large rises this week. Strong demand helped push prices for wool 28.0 micron and finer up by 80 to 90 cents.
Better prepared lines received the greatest support and as a result enjoyed the largest increases. The carding market continued its upward trend following on from the large gains experienced in the previous week’s sale. Locks, stains and crutchings generally rose by 10 to 25 cents. These rises helped pushed the three carding indicators up by an average of 12 cents.

Next week is the penultimate sale before the annual three-week Christmas recess. Quantities increase and currently, there is 39,510 bales rostered for sale in Sydney, Melbourne and Fremantle.