Week 24 on the Australian wool selling programme hosted the final sale of the calendar year. It is also the final buying/selling opportunity at auction before the market heads into a three-week recess. As this is the last chance for sellers to offer their wool at auction for the year, quantities have understandably increased, and 46,003 bales were available to the trade, and in a welcomed result to these sellers, the market has finished the year on a positive note. With the recess looming, buyers were aware that this was their last major buying opportunity for the year. This resulted in an aggressive buyer sentiment, as they fought hard to secure meaningful quantity. The result was price increases across the entire merino spectrum, with all types and descriptions enjoying gains.
The lift in prices pushed the AWEX Eastern market indicator (EMI) up by 13 cents for the series, the EMI closes the year at 1859 cents. The EMI has risen by 102 cents over the 2018 calendar year, a rise of 5.8%. The skirtings did not record any significant movement for the series, prices fluctuated within 10 to 15 cents of the previous week’s levels. Crossbred wool coarser than 28 micron recorded modest increases of 5 to 10 cents.
The oddments finished the year with price reductions. Prices for locks, stains and crutchings were generally reduced by 30 to 50 cents. This was reflected in the three carding indicators falling by an average of 44 cents. As mentioned earlier, the market now heads into the annual three-week Christmas recess.
Sales will resume in the week beginning Monday, 7th of January (Week 28) with selling in all three centres. Worth noting, if quantities dictate that Melbourne requires a three-day sale, Fremantle will sell on Tuesday and Wednesday in Week 28.
This change is to avoid Melbourne selling in isolation after an extended recess. As this is the final market report for 2018 we would like to wish all of Roberts Ltd clients a Very Merry Xmas and a happy and prosperous 2019.